econ 114b

econ 114b - Econ 114 Student questions and responses Most...

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Econ 114 Student questions and responses Most emails will be posted (with no names) so you may want to check frequently especially before homework is due and before the midterm and final. Homework 2 questions Question 2 and 3: When we're solving for the # of children can we have 3.654 children or should it be a whole #? Yes, you need to give at least 2 decimals. Imagine you calculate 0.20 this means out of 5 women, 1 will have a child. If you round up to 1, this would be saying all 5 women have 1 child each. This is not the same thing. Question 4 : “I'm not sure how to solve #4 on the hw. The equation given in class was 1-(1- p)^n >= q. So are we finding q? and n =?” Depending on the question asked, q can represent the parent’s acceptable probability of care or their bias toward a certain sex child. n is the number of children they have or will have and it’s given in each problem so in 4a it's n=2, in 4b it's n=3 etc. “I know that we are solving for q, however do we change the probability for each one, say for the first one there's a 1/2 chance of a male, and for the third one its 1/3 because we have 3 children, 1 male, or do we keep the probability of having a male child constant at 1/2? In short, do we keep p at .5 or change to .33, .25, .2, .0166? Each pregnancy has a probability of 1/2 male. So think of the p as an individual outcome per pregnancy or in other words the pregnancies are independent of each other. For example, if I wanted to have a 3rd child and I have 2 females right now, my next pregnancy will have a probability of 1/2 male. A different question and not part of this class is if we wanted
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to know the probability of having 3 children and 1 is male, then you do . 5*.5*.5= 0.125 which should the process you did but your numbers don’t match so I’ll assume you made them up or gave them out of context. But I digress, if you’d like to take statistics, please come and see me. Question 11 : “Don't we need at least one more variable to find the probability of getting a formal sector job?” There is no mistake. You have enough information to calculate the answer. So if the formula you want to use does not work, then you need a different formula. Look at the class notes and see if there is anything that can work. Hint: you have to calculate the agri wages independent of the
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econ 114b - Econ 114 Student questions and responses Most...

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