120PM15 - Midterm Exam 1 Practice Problems - Econometrics...

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Midterm Exam 1 Practice Problems - Econometrics 120A 1. The following is a list of starting median salaries for college graduates by profession: Degree Starting Median Salary Chemical Engineering 65,700 Finance 48,500 Economics 50,200 Statistics 48,600 Computer Science 56,400 (a) What is the average starting salary across the college degrees listed? (b) What is the 80 th percentile of the above sample? (c) Is your answer to (b) unique? Justify your answer. (d) For the above sample, what is larger: the Variance of the Mean Squared Deviation? (e) The Mean Absolute Deviation for the above sample is 5,736. What would the mean absolute deviation be if everybody made 5,000 less dollars? Justify your answer. 2. SAT scores are assumed to be normally distributed with mean 1500 and a standard deviation of 300. (a) What is the probability that a test taker received 2100 or above? (b) What is the probability that a test taker receives a score between 750 and 1500? (c) How high would your score need to be for the probability that someone scores below you to be
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120PM15 - Midterm Exam 1 Practice Problems - Econometrics...

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