Econ 102A: Midterm Examination Professor Scott McKeon October 25, 2017 Instructions: •Please sign the Honor Code acknowledgement and acceptance at the bottom of your blue book (and any additional blue books you might use). •The examination lasts the full class period of 1 hour and 50 minutes (1:30pm –3:20pm). •The examination is open lecture handouts, open textbook and open any notes you have taken during class. I do not want your performance to be based on memorization of formulas. Rather, I hope grades to be based on your ability to apply class concepts to newly-seen exercises. •You are allowed to use a calculator or Excel. However, you should NOT be using any device that allows internet access and/or the ability to communicate with your classmates. If you are using Excel on your laptop you must turn off all Wifi capabilities. •You are allowed to leave solutions in the form of Excel functions such as BINOMDIST( ) or POISSON( ) provided that you correctly fill in the parameters within the parentheses. •The point value of each question is written in parentheses next to the question itself. The examination is worth a total of 100 points. •Please show your workso that we can award maximum partial credit in the case of an incomplete response. Please make sure your handwriting is legibleso we can follow your train of thought and, again, award maximum partial credit. •Each question is independent of all other questions and, even within questions, effort was made to make each part as independent as possible. So, if you have difficulty answering a particular part, moving onto the subsequent part should not hamper you. Please do not begin the examination until you are instructed to do so.
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