statsexam1f06sol

# statsexam1f06sol - Economic Statistics Exam 1 SOLUTION KEY...

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Econ 400 Midterm 1, page 2 of 9. 4. The following graph came from a news article on CNN.com. What is the most serious problem with this graph? There is an inconsistency: it compares full - year sales in 2001, 2002, 2003, 2004, and 2005 to sales in the first eight months of 2006. 5. When a healthy, sexually active couple is trying to get pregnant, there is a roughly 0.25 chance of conceiving in any given month. Assuming that these chances are independent from one month to the next, what is the probability that a couple gets pregnant within three months? Let s call A 1 the event that the couple conceives in the first month, A 2 for the second, and A 3 for the third. Then note that: P ! A 1 ! A 2 ! A 3 " = 1 " P !# not A 1 \$ # # not A 2 \$ # # not A 3 \$" = 1 " P !# not A 1 \$" \$ P !# not A 2 \$" \$ P !# not A 3 \$" # since independent \$ = 1 " # 0 . 75 \$ 3
Econ 400 Midterm 1, page 3 of 9. 6. The experiment in this problem is looking at the contents of a randomly selected student at UNC. The event A is that the iPod contains music by Weird Al Yankovic , and the event B is that the iPod contains music by Chamillionaire. Use the following table ( containing the joint probabilities ) to determine if these events are independent, and explain your reasoning. Contains

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statsexam1f06sol - Economic Statistics Exam 1 SOLUTION KEY...

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