Sp09_Mid1A - EC 41, UCLA Spring 2009 Midterm #1 4/20/09...

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EC 41, UCLA Spring 2009 Name (print)________________________________ Midterm #1 – 4/20/09 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 Another name for “variable” is “case,” when observations are not on individuals. 2) T or F Another name for “qualitative variable” is “categorical variable.” 3) T or F If average earnings are $50 for women and $70 for men, then average earnings of all people is $60 4) T or F The “Budget Deficit” is a stock variable. 5) T or F If s X > s Y , it is impossible for the estimated slope of a regression of Y on X to be greater than one. 6) T or F Making statements about samples, given known population parameters, is an example of deductive reasoning. 7) T or F If outliers have a smaller impact on a summary statistic, this summary statistic is a more “resistant” measure. 8) T or F The sample mean, X is a measure of central tendency which minimizes the sum of the absolute values of the deviations of X i from X . 9) T or F The main point of the “demand for murder” example in class, is that there is convincing evidence that increasing use of capital punishment reduces the rate of murders. This shows even potential murderers rationally respond to incentives. 10) T or F A correlation based on averages is usually higher than if we use data for individuals. II. Briefly, clearly, and correctly answer the following 10 questions (3 pts. each) 1) Consider the random variable X with the density curve below.
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This note was uploaded on 12/06/2009 for the course ECON 41 taught by Professor Guggenberger during the Spring '07 term at UCLA.

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Sp09_Mid1A - EC 41, UCLA Spring 2009 Midterm #1 4/20/09...

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