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Unformatted text preview: Economics 120B Fall 2008 Dr. Maria Cândido Student Name:_____________________________________ Student ID:________________________________________ Economics 120B Midterm Examination Answer Key Fall Quarter November 5 th , 2008 Instructions: a. You have 50 minutes to finish your exam. Write your name and student ID number on the upper left corner of this page. b. Confirm that your test has 8 pages. Make sure you find the formula sheet, as well as the standard normal distribution table, in the pages of your exam. The last page can be used as scratch paper. c. There are two parts to this exam – multiplechoice questions (Part I) and longer questions (Part II). You do not need to justify your answers for the multiplechoice questions. Show ALL your work for the longer questions. d. Use a pen to write your answers. You give up your right to a regrade if you choose to use a pencil. e. The table below indicates how points will be allocated on the exam. You can answer the questions in any order you like. Use your time carefully and efficiently. Question Points Part I 32 Part II 1. 20 2. 28 3. 20 Exam Total 100 f. With you, you should only have a pen, and a basic calculator. g. You will NOT be allowed to leave the room during the exam. Turn off your cell phone and your IPod, and good luck! 1 Economics 120B Fall 2008 Dr. Maria Cândido PART I: MultipleChoice Questions (4 points each, 32 points total) 1) In the population you are studying (people who live alone), there are 40% of men and 60% of women. If you know that the mean number of takeout dinners in a month for men is 25, and the mean number for women is 23, then the overall mean number of takeout dinners per month (for the population) is roughly a. 23.6. b. 23.8. c. 24. d. 24.2. 2) A student conducted a study and reported that the 95% confidence interval for the mean ranged from 46 to 54. He was sure that the mean of the sample was 50, that the standard deviation of the sample was 15.8, but could not remember the exact sample size. You decide to help him out: “Your sample size is ___.” a. 8 b. 15 c. 42 d. 60 3) Consider the following estimated relationship between housing price in dollars ( price ) and the distance from a recently built garbage incinerator, in feet ( dist ): . If you decided to measure the distance in yards, rather than feet, and reestimate the model, what would be the new estimated values of the intercept and slope? (Note: 1 yard = 3 feet) dist ce i pr 01 . 1 27 . 186 , 75 ˆ + = a. Both the estimated intercept and slope would be multiplied by 3 (i.e., = 225,558.81 .and = 3.03)....
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This note was uploaded on 06/08/2010 for the course ECON 171 taught by Professor Newhouse during the Spring '07 term at UCSD.
 Spring '07
 Newhouse
 Economics

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