# ps4_answer - Econ 41 Statistics for Economists Summer 2007...

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1 Econ 41 Statistics for Economists Summer 2007 Chunming Yuan Problem Set 4 (Answers) Multiple Choice Summary Table Item Answer Item Answer 1. c 18. c 2. b 19. a 3. a 20. a 4. c 5. a 6. c 7. c 8. c 9. a 10. b 11. b 12. d 13. b 14. c 15. b 16. d 17. b Problem and Essay Solutions 1. a. P(1.07 z 3.02) = .4987 – .3577 = .1410 b. P(–2.22 z –.92) = .4868 – .3212 = .1656 c. P(–1.38 z 2.66) = .4162 + .4961 = .9123 2. For x = 580, z = (580 – 670) ÷ 120 = –.75 F o r x = 892, z = (892 – 670) ÷ 120 = 1.85 P(670 < x < 580) = P(–.75 < z < 1.85) = .2734 + .4678 = .7412 3. a. z = 1.46 c. z = –2.58 b. z = –2.66 d. z = 2.07 4. P( μ – 2 σ < < + 2 σ ) = P(–2 < z P( – 3 σ < < + 3 σ ) = P(–3 < z < 3) = .4987 + .4987 = .9974 Chebyshev’s theorem is correct in its prediction in both cases. 5. = μ = 124, Standard deviation of the sample mean = 20

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2 6. x = μ = \$84,500, Standard deviation of the sample mean = \$26,000
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## This note was uploaded on 09/03/2009 for the course ECON 41 taught by Professor Guggenberger during the Summer '07 term at UCLA.

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ps4_answer - Econ 41 Statistics for Economists Summer 2007...

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