W09_Mid1A

W09_Mid1A - EC 41, UCLA Winter 2009 Midterm #1 1/26/09 Name...

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EC 41, UCLA Winter 2009 Name (print)________________________________ Midterm #1 – 1/26/09 TA: Name__________________________ & Section Time_____________ - The normal table and useful formulas are on the last page of this exam. - Only pens, pencils and erasers may be used, this is a closed book, closed note, exam. - Students may use a calculator, but nothing that can access the internet. - Write non-integer answers to 3 significant digits, e.g., 333, or 3.33 or .0333 - This exam consists of 10 True/False (20 points), 10 short answer (30 points) and 5 longer questions (50 points) - Clearly write answers on this exam. No points are awarded for illegible answers. - Be prepared to show a photo ID during the exam (e.g., UCLA ID) - You may leave when finished. Do not disrupt those still taking the exam. I. Circle T for True or F for False (2 points each) 1) T or F A categorical variable takes numerical values for which arithmetic operations have meaning. 2) T or F In the demand for murder example, time series data for the U.S. suggested that increased use of capital punishment would reduce murders per capita. 3) T or F Data from a back to back stemplots such as incomes for unrelated American and Japanese individuals can be used to create a meaningful scatter plot. 4) T or F Data on price, income, or wealth are typically skewed leftward (downward) toward smaller values. 5) T or F In a standard OLS regression of Y on X, we assume X is measured without error but that there may be errors in the measurement of Y. 6) T or F If X and Y have the same standard deviations, s X = s Y , then it will be impossible for either the b 1 estimated by regression of Y on X, or the b 1 ’ estimated by the reverse regression of X on Y, to have a value greater than 1. 7) T or F In a standard linear regression of Y on X, the squared sum of the horizontal distances between the estimated line and the actual X values is minimized. 8) T or F For the regression of Y on X if X is two standard deviations above X then the corresponding predicted value of Y ( ˆ Y ) must be more than two standard deviations above Y (assume the correlation between X and Y is not 1 or -1).
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This note was uploaded on 12/06/2009 for the course ECON 41 taught by Professor Guggenberger during the Fall '07 term at UCLA.

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W09_Mid1A - EC 41, UCLA Winter 2009 Midterm #1 1/26/09 Name...

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