Spring09Midterm1A

Spring09Midterm1A - Midterm 1 - Form A - Spring 2009...

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Midterm 1 - Form A - Spring 2009 Economics 203 Instructors: Petry and Sahakyan Name: Before beginning the exam, please verify that you have 18 pages with 43 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 or discussion time, please code in the following for the “Section” portion on your scantron: TA Name Discussion Day and Time Section Joshua Brown Thursday 9am 00001 Joshua Brown Thursday 10am 00002 Joshua Brown Thursday 11am 00003 Mahdi Rastad Thursday 12pm 00004 Mahdi Rastad Thursday 1pm 00005 Mahdi Rastad Thursday 2pm 00006 Meenakshi Ghosh Friday 8am 00007 Meenakshi Ghosh Friday 9am 00008 Sascha Baghestanian Friday 10am 00009 Sascha Baghestanian Friday 11am 00010 Soroush Ghazi Friday 12pm 00011 Soroush Ghazi Friday 1pm 00012 Hilal Atasoy Friday 2pm 00013 Hilal Atasoy Friday 3pm 00014 Paul Holmes Friday 4pm 00015 Paul Holmes Friday 5pm 00016 Good luck! 1. What is the most appropriate interpretation of a type II error? a. A type II error is when you correctly reject the null hypothesis b. A type II error is when you incorrectly reject the null hypothesis c. A type II error is when you correctly do not reject the null hypothesis d. A type II error is when you incorrectly do not reject the null hypothesis e. A type II error is does not exist in statistical decision making 1
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2. An electrical contractor has observed that his accounts are paid on average in 40 days, with a standard deviation of 10 days. Using the empirical rule, estimate what proportion of the accounts will be paid between 50 and 60 days? a. 5% b. 13.5% c. 27% d. 68% e. 95% 3. Which of the following statements is false ? a. the median is greater than the mode when a distribution is skewed to the right. b. the median of a distribution that is symmetric is equal to the mean. c. the median is less than the mean when a distribution is skewed to the right. d. the median value is the middle value in a dataset. e. the median is the most commonly observed value. Use the following information to answer the next 3 questions (4-6): A meteorologist is interested in determining if the variance of temperatures is different be- tween Boston and New York . She randomly samples 60 days over a 40 year period for Boston and another random 50 days over the same period for New York. The sample variance for Boston (population 1) is found to be 8.6 and the sample variance for New York (population 2) is found to be 12.7. 4. What are the appropriate null and alternative hypotheses for the meteorlogist’s question? a. H 0 : σ 2 1 - σ 2 2 = 1 vs. H 1 : σ 2 1 - σ 2 2 6 = 1 b. H 0 : σ 2 1 σ 2 2 > 0 vs. H 1 : σ 2 1 σ 2 2 < 0 c. H 0 : σ 2 1 σ 2 2 = 1 vs. H 1 : σ 2 1 σ 2 2 > 1 d. H 0 : σ 2 1 σ 2 2 = 1 vs. H 1 : σ 2 1 σ 2 2 6 = 1 e. H 0 : σ 2 1 σ 2 2 > 1 vs. H 1 : σ 2 1 σ 2 2 < 1 2
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5. What is the value of the appropriate test statistic?
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Spring09Midterm1A - Midterm 1 - Form A - Spring 2009...

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