midtermB_solutions

midtermB_solutions - Economics 41 Winter 2008 Ekaterini...

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Economics 41 Winter 2008 Ekaterini Kyriazidou Midterm Examination Version B YOU HAVE 1 HOUR and 15 MINUTES TO ANSWER ALL QUESTIONS. THERE ARE TWO SECTIONS. SECTION 1’S MULTIPLE CHOICE QUESTIONS RECEIVE 5 POINTS EACH. SECTION 2’S PROBLEMS RECEIVE 40 POINTS EACH. THE TOTAL POINTS FOR THE MIDTERM IS 200. SECTION 1 (Multiple Choice): Cross one choice only. 1. A discrete variable is a variable that can assume: (a) categorical values only (b) countable values only (c) uncountable values (d) non-numerical values 2. A continuous variable is a variable that can assume: (a) categorical values only (b) countable values only (c) uncountable values (d) non-numerical values 3. We can construct a frequency histogram for: (a) quantitative data only (b) qualitative data only (c) qualitative and quantitative data (d) continuous data 4. If the data produce a left-skewed histogram, then the: (a) values of the mean, median, and mode are identical (b) values of the mean and median are equal but the mode is different (c) mean is greater than the median and the median is greater than the mode (d) mode is greater than the median and the median is greater than the mean Read pages 45 and 82 of the textbook
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5. Five percent of all credit card holders eventually become delinquent. The probability that in a random sample of ± ± 100 10 credit card holders, exactly ² ² ² thirty 3 will eventually become delinquent is: (a) .3151 (b) .0746 (c) .0105 10 3 (0 . 05) 3 (0 . 95) 10 - 3 (d) .2481 Use the following information for questions 6-8: The annual salaries of six employees of a company are as follows: $35,000 $35,000 $22,000 $57,000 $72,000 $46,000 6. The mean salary of these employees is: (a) $42,333 (b) $44,500 1000(35+35+22+ 57 + 72 + 46) / 6 (c) $53,000 (d) $22,000 7. The median salary of these employees is: (a) $42,330 (b) $40,500 (35000 + 46000) / 2 (c) $53,000 (d) $22,000 8. The mode of salaries for these employees is: (a) $42,330 (b) $40,500 (c) $35,000
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This homework help was uploaded on 04/01/2008 for the course ECON 41 taught by Professor Guggenberger during the Winter '07 term at UCLA.

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midtermB_solutions - Economics 41 Winter 2008 Ekaterini...

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