# exam1_answer_econ120a_su07 - Economics 120A Name Student ID...

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2 Answer to MIDTERM EXAM, ECON 120A, SUMMER 2007 10. A Bernoulli process is a sequence of independent trials with two possible outcomes whose probabilities can change between trials. Answer: False 2. (10 points) . Prove that the average of deviations about the sample mean is zero. Answer: The question asks you to show that for sample size n, that the average of deviations about the sample mean is zero: Using the definition of the sample mean, this can easily be shown: () 1 1 0. n i i n X X = = 11 1 1 0. nn n ii i n XX X X == =  =− =   ∑∑
3 Answer to MIDTERM EXAM, ECON 120A, SUMMER 2007 3. (10 points)

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exam1_answer_econ120a_su07 - Economics 120A Name Student ID...

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