f5 - Stat 104 Fall 2015 ANSWER SHEET TF Question 1 2 3 4 5...

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1 Stat 104 Fall 2015 ANSWER SHEET IF YOU REMOVE THIS ANSWER SHEET FROM THE EXAM BOOK PLEASE PLACE IT INSIDE THE EXAM WHEN YOU HAND IT IN. THANKS! TF Question Answer MC QUESTION ANSWER MC QUESTION ANSWER 1 1 19 2 2 20 3 3 21 4 4 22 5 5 23 6 6 24 7 7 25 8 8 26 9 9 27 10 10 28 11 11 29 12 12 30 13 13 31 14 14 32 15 33 16 34 17 35 18 36 Question Points Obtained True/False 9 Multiple Choice 108 Long 1 5 Long 2 30 Long 3 10 Total 162
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2 Statistics 104: Quantitative Methods for Economists Fall 2015 Final Examination Directions You are allowed 6 double sided pages of notes. Calculators are allowed but not tablets, cellphones or laptop computers. The exam will end 3 hours after it begins. The exam is divided into two parts. The first part is true/false and multiple choice. Please choose the best answer (some rounding occurs in several places). The second part of the exam consists of several problems. Please answer these problems in the space provided on the exam (you may use the backs of the sheets if necessary). You will get partial credit for these problems provided that your answers are organized and legible so that your train of thought can be easily followed. Unless stated otherwise, all confidence intervals are at the 95% level of confidence, and all hypothesis tests are at the alpha=.05 significance level. Good Luck
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3 TRUE/FALSE (1 point each) Write your answer on Answer Sheet 1. T F A t-distribution has fatter tails than the N(0,1) distribution 2. T F A 90% confidence interval is always larger than a 95% confidence 3. T F The expected value (mean) of a continuous random variable is always equal to 0. 4. T F Suppose that X~N(2,8). Then -1.5X~N(-3,12). 5. T F The average of a list of numbers cannot be smaller than its standard deviation. 6. T F In regression, ε i i n = = 0 1 7. T F If SSR=4SSE than R 2 =.25 8. T F As the sample size ( n )gets extremely large, the R-squared value for a multiple regression will get closer and closer to one. 9. T F If the regression assumptions hold, then the observed residuals ( e Y Y i i i = - $ ) should be independent and have distribution N(0,1).
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4 Multiple Choice (3 points each) Write the best answer on the ANSWER SHEET 1) Federal guidelines require that pharmaceutical companies provide evidence that a new drug is effective by demonstrating that two independently conducted randomized studies both show statistically significant benefit from the drug at significance level of 0.025, i.e. α = 0.025. Given that the null hypothesis is that the drug has no benefit, what type of error has been committed if a new drug appears beneficial to the FDA when in fact the drug provides no benefit? a) Type I error b) Type II error c) No error was made
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