Econ375Homework1_1

# Econ375Homework1_1 - ECON 375 Introduction to Econometrics...

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ECON 375: Introduction to Econometrics Spring 2010 Problem Set 1 Due: April 12, 2010 NOTE: All assignments must be typed if you can not write it legibly. Graphs and calculations may be handwritten. No late homework will be accepted. Exercise 1 (10 Points) A fair six-sided dice is thrown and the result is recorded. The same die is thrown a second time. Calculate the probability that the num- ber obtained on the second toss exceeds the number obtained on the first toss. Exercise 2 (10 Points) Bart is planning to murder his rich Uncle Basil in hopes of claiming his inheritance a bit early. Hoping to take advantage of his uncles predilection for immoderate deserts, Bart has put rat poison in the cherries flambe and cyanide in the chocolate mousse. The probability of the rat poison being fatal is 60 percent; the cyanide 90 percent. Bart estimates that Basil has a 60 percent chance of ordering the cherries and a 40 percent chance of ordering the mousse. Given that Basil did, indeed, suffer a premature demise, what is the probability that he was done in by the chocolate mousse? Exercise 3 (10 Points) The rated capacity for an elevator at the Sears Tower is 2500 kilograms. If this capacity is exceeded the elevator cable will snap and will plummet to the ground.

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