Econ 210 Spring 2009 Problem Set 6

Econ 210 Spring 2009 Problem Set 6 - Econ 210 Spring...

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Econ 210 Spring Quarter 2009 - Problem Set 6 - Due Date: 5/27/2009 Solve the following Problems. Show your work. 1. True/False a. You estimate a sample proportion ˆ 0.4 p = . The t-statistic corresponding to the null hypothesis that p=0.6 is 0.24 0.4 0.6 N t = b. The higher the number of sample observations the wider the confidence interval. c. The sample proportion is a consistent estimator of the population proportion d. Testing for differences in population means is fundamentally different from testing hypotheses about a single population mean. 2. A president in charge of sales claims that salespeople are averaging no more than 15 sales contacts per month. Assume sales are normally distributed. To check his claim N=36 salespersons are selected at random and the number of contacts made by each is recorded for a single randomly selected month. The mean and variance of the 36 measurements were 17 and 9, respectively. a.
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This note was uploaded on 09/25/2010 for the course ECON 210 taught by Professor Pavan during the Winter '09 term at Northwestern.

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