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Unformatted text preview: Midterm 1 - Form A - Fall 2009 Economics 203 Instructor: Petry Name: Before beginning the exam, please verify that you have 18 pages with 38 questions in your exam booklet. You should also have a decision-tree and formula sheet provided to you. Please include your full name and Net-ID on your bubble sheets. Based on the name of your TA and discussion time, please code in the following for the Section portion on your scantron: TA Name Discussion Day and Time Section Mahdi Rastad Friday 8am 00001 Mahdi Rastad Friday 9am 00002 Soroush Ghazi Kalahroudi Friday 10am 00003 Soroush Ghazi Kalahroudi Friday 11am 00004 Luke Godwin-Jones Friday 12pm 00005 Luke Godwin-Jones Friday 1pm 00006 Josh Brown Friday 2pm 00007 Josh Brown Friday 3pm 00008 Lusha Zhu Friday 4pm 00009 Lusha Zhu Friday 5pm 00010 Good luck! 1. Without the highest paid basketball stars in the NBA, the distribution of NBA player salaries is very normally distributed. However, adding in the highest paid basketball stars skews the distribution. How would the distribution of salaries best be described with all basketball players? a. Positively skewed with mean < median b. Negatively skewed with median < mean c. Positively skewed with median < mean d. Negatively skewed with mean < median e. Perfectly bell shaped with mean = median 2. Of the following, which is the last step involved in the hypothesis testing process? a. Calculate the point estimate b. Identify the null and alternative hypotheses c. Calculate the test statistic d. Set the significance level for your hypothesis e. Make a conclusion 1 Use the following information to answer the next 3 questions (3-5): For each question, read the situation and choose the correct test/method from the groups listed below. For example, if you believe a z-test for a single population mean is appropriate for question 3, then answer (a) for question 3 as the z-test for a single population mean is in Group (a). You may use each option/test more than once, not at all, etc. z-test for single population mean Group (a) t-test for difference in population means with equal variances F-test for ratio of variances t-test for single population mean Group (b) t-test for difference in population means with unequal variances 2 test for single population variance Group (c) t-test for difference in population means with dependent samples One-way ANOVA z-test for single population proportion Group (d) z-test for difference in proportions with zero hypothesized difference z-test for difference in population means with independent samples Group (e) z-test for difference in proportions with non-zero hypothesized difference 3. Joe and Josh each got the same Sudoku puzzle book and record the time it takes each of them to do each of the 100 puzzles in the book. Assuming these puzzles are a random sample of all Sudoku puzzles, they proceed to perform a test to see if they can tell which of them is faster at Sudoku....
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This note was uploaded on 07/19/2010 for the course ECON ECON203 taught by Professor Petry during the Spring '10 term at University of Illinois at Urbana–Champaign.
- Spring '10