Mid2Problems2 - Midterm Exam 2 Practice Problems -...

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Unformatted text preview: Midterm Exam 2 Practice Problems - Econometrics 120A 1. A fictional study examined the joint probability distribution of political affiliation and car purchasing patterns. Political affiliation is in the left most column, and car preference on the top most row. Party/Car Hummer Honda Accord Toyota Prius Republican 0.15 0.25 0.1 Democrat 0.3 0.2 (a) What the probability of someone buying a Hummer? What is the probability of buying an Accord? What is the probability of purchasing a Prius? (b) What is the probability of purchasing a Prius conditional on being a Democrat? What is the probability of purchasing a Prius conditional on being a Republican? (c) Are party affiliation and car purchasing patterns independent of each other? Justify your answer. (d) Does it make sense to speak of covariance between party affiliation and car purchasing patterns? Does it make sense to speak of party affiliation and car purchasing pattern as being independent (or not) from each other? Explain your answer.(or not) from each other?...
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Mid2Problems2 - Midterm Exam 2 Practice Problems -...

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