Spring09Midterm1B - Midterm 1 Form B Spring 2009 Economics...

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Midterm 1 - Form B - 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. You would like to measure the proportion of people who will respond to a particular survey. From previous surveys of this type you estimate the response rate to be 0.28. How many of this survey must you send out to be 95% confident of being within 0.05 of the true response rate? z 0 . 10 = 1 . 282 z 0 . 05 = 1 . 645 z 0 . 025 = 1 . 960 a. 219 b. 271 c. 310 d. 385 e. 1240 1
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2. Suppose you perform a test of the null hypothesis H 0 : σ 2 = 10 versus the alternative hypothesis H 1 : σ 2 6 = 10. You obtain a p-value of 0.014 for the test. Now consider forming a confidence interval for the true population variance, using the same data. Among the following, which is the widest confidence interval not containing 10? a. A 99% confidence interval b. A 98% confidence interval c. A 97% confidence interval d. A 95% confidence interval e. All of the above will contain 10 3. You would like to form a 90% confidence interval for the average income of UIUC philosophy graduates. A previous study suggests that the standard deviation of philosophy graduates’ salaries is around $12000. You would like the interval to be no more than $3000 wide. How many people should you sample? z 0 . 10 = 1 . 282 z 0 . 05 = 1 . 645 z 0 . 025 = 1 . 960 a. 26 b. 27 c. 43 d. 44 e. 62 4. You believe that the scholarship athletes will have a lower GPA compared to the average student. To prove your claim, you obtain transcripts of 32 scholarship athletes, and calculate their average GPA to be 2.96 with a standard deviaion of 0.58. You remember reading in the Daily Illini that the average UIUC GPA was 2.83. If you were to run a hypothesis test of H 0 : μ A = 2 . 83 versus the alternative H 1 : μ A < 2 . 83, in what range would your p-value ( p ) lie?
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Spring09Midterm1B - Midterm 1 Form B Spring 2009 Economics...

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