Homework 1, Econ 400

# Homework 1, Econ 400 - Economics 70 Book Exercise 1...

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Economics 70 Book Exercise 1 Exercise Title: Homework 1 Date: 5/7/2009 Name (Last, First): ANSWER KEY PID: Sign the Honor Pledge: 1.3 a. The population consists of measurements on variable of interest (top speed, range before recharging, time to accelerate from 0 to 60) for all Tropicas that have been manufactured to date, or that will be manufactured in the future. b. The figures given were based on the sample. 1.5 a. The population of interest consists of a series of measurements (damaged or not damaged) taken for each pine tree in Yosemite National Park at a particular point in time (either 1985 or 1990). b. The percentage are probably estimated. c. One possible method is to divide the park into a number of grids and to sample trees randomly within each grid. If the trees are numbered by the park rangers using some method of categorization, this numbering system might be employed. 2.10 a) Fraction Debt Per Capita 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 0 .1 .2 .3 .4 .5 b) 1

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Fraction Taxes Per Capita 700 1000 1300 1600 1900 2200 2500 2800 0 .1 .2 .3 c) They are similar – they are both skewed to the right. 2.29 a) Average per capita debt = 92124/50 = 1842.48 b) The median is the average pf the 25 th and 26 th ordered measurements or (1225 + 1300)/2 = 1262.5 c) The mean is much larger than the median. Hence, there must be some unusually large measurements that inflating the value of the mean, and we conclude that the distribution is skewed to the right. 2.38 a) First calculate the intervals: 04 . 16 80 . 15 ) 04 (. 3 92 . 15 3 00 . 16 84 . 15 ) 04 (. 2 92 . 15 2 96 . 15 88 . 15 04 . 92 . 15 to or s x to or s x to or s x ± ± ± ± ± ± Using Tchebysheff’s Theorem, we would expect at least (1 – 1/1 2 ) = 0 of the measurements to fall in the interval 15.88 to 15.96; at least (1 – 1/2 2 ) = ¾ of the
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## This note was uploaded on 04/14/2008 for the course ECON 400 taught by Professor Turchi during the Spring '08 term at UNC.

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Homework 1, Econ 400 - Economics 70 Book Exercise 1...

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