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) nonnumerical values
2. A continuous variable is a variable that can assume:
3. We can construct a frequency histogram for:
4. If the data produce a leftskewed histogram, then the:
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 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 68:
The annual salaries of six employees of a company are as follows:
$35,000
$35,000
$22,000
$57,000
$72,000
$46,000
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 Winter '07
 Guggenberger
 Economics, Normal Distribution, Probability, Standard Deviation, Probability theory, Binomial distribution

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