5 stats reading questions

1- Explain the terms “retrospective study” and “prospective study”

2- Describe the Literary Digest’s sampling system for its 1936 poll. Was this scientific sampling? Why was the poll so far off in the predicting the election?

3- Unions, managements, and economists pay particular attention to the CPI and its movements and changes. Why?

4- How the monthly unemployment rate in the U.S. is estimated. Briefly explain the sampling techniques utilized for collection of information pertaining to the estimation of this rate.

5- Explain the difference between Leading, Lagging, and Coincidental indicators. How economists use these indicators?