Topic1_DescriptiveStats_TestReview_Answerkey (2).pdf - ECO220Y5Y Quantitative Methods in Economics ECO220Y Quantitative Methods in Economics Tutorial

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ECO220Y5Y: Quantitative Methods in Economics Topic One – Descriptive Stats Test Review Questions Tutorials – Fall/Winter 2017/18 ECO220Y: Quantitative Methods in Economics Tutorial Two – Categorical Data In-Class Questions Question 1 An Economics professor surveyed students to see how they felt about the course. Students could choose from the ordered responses Very Poor, Poor, Average, Great, Excellent. The following data show the responses: –Average –Great –Excellent –Average –Excellent –Excellent –Excellent –Excellent –Excellent –Excellent –Excellent –Great –Great –Excellent –Excellent –Average –Great –Great –Average –Great 1. Prepare a frequency table for these data. 2. Prepare a relative frequency table for these data. 3. Based on frequencies, construct a bar chart. 4. Based on relative frequencies, construct a pie chart. page 1 of 3 REIFF poor 0 Average 4 Great 6 Excellent 10 Response aye O Average 20k Great 30% Excellent 50% 60 t so : than very poor Poor Average Gutful ¥40 page 1 of 41
ECO220Y September 23, 2019 Tutorials – Fall/Winter 2017/18 ECO220Y August 18, 2017 Jan Feb Mar Apr May Jun Jul Aug Sep \$1.10 \$1.25 \$.99 \$1.15 \$1.19 \$.95 \$1.10 \$1.32 \$.85 Question 5 Consider the data above on monthly average gas prices in Mississauga: 1. What is the mode? 2. Compute the mean and standard deviation 3. Compute the median and inter-quartile range 4. Draw the boxplot of this data 5. Suggest what measure of centre and spread you think is most appropriate page 3 of 3 1.10 is the only obskatoars twice so it is the mode I=EIn= 1.10 s=F×nIML= 0.149 0.85 0.950.99 1.101,10 1.15 1,19 1.25 1,32 Median = 1.10 IQR = 1. 19-0.99=0.2 1,49g # - - - - 1.19*(1.5×2)=1,49 nax in ii. ¥ : I Qz 1114 1nA 'S - median 1.10 iii. He man : :& a :sf . 0 , 9 a 0.85 08*-1 £ - Oaa a. sxaw -0609 Men and Studard deviation will not well because teddtibuher does at look skewed and Here are no outtres page 2 of 41
ECO220Y September 23, 2019 Tutorials – Summer 2018 Tutorials – Fall/Winter 2017/18 1. Draw two histograms to represent two populations with a common mean, but with a standard devia- tion of the second population larger than that of the first. ECO220Y: Quantitative Methods in Tutorial Three – Quantitative Data – Statistical In-Class Questions Question 1 1. Draw two histograms to represent two populations with a common m of the first population larger than that of the second. 2. Draw two histograms to represent two populations with the mean that of the second, but with a common standard deviation. vs.hn#tdu..u.N8kaiEYoF o U ¥ Line page 3 of 41
ECO220Y September 23, 2019 2. Draw two histograms to represent two populations with the mean of the first population larger than that of the second, but with a common standard deviation. 2. Draw two histograms to represent two populations with the mean of the first population larger than that of the second, but with a common standard deviation.

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