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: 3. We can construct a frequency histogram for: 4. If the data produce a left-skewed 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 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
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