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midterm2006_key

midterm2006_key - Nov 7 2006 Answer all four questions ECON...

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Nov. 7, 2006 ECON 240A- 1 L. Phillips Midterm Answer all four questions. 1. (20) A list of housing prices, in thousands, for homes sold in a recent year for a suburb in Los Angeles follows: 289 205 244 208 218 222 255 198 230 215 209 222 270 341 306 222 195 206 200 221 340 210 209 224 242 209 219 250 272 222 229 213 220 220 226 250 260 209 252 247 213 273 212 217 246 a. How many observations are there?_ 45 __ b. What is the minimum price? 195 ___ What is the maximum price? _ 341 __ c. Draw a stem and leaf diagram. To save time you do not have to order the leaves. d. Define and provide a numerical value of the central tendency _ median = 222 __ e. Is this distribution symmetric? __ no, skewed to high prices __ 19 8 5 20 8 6 9 9 5 9 0 9 21 5 0 3 7 8 9 3 2 22 2 1 4 2 9 0 0 6 2 2 23 0 24 7 2 6 4
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Nov. 7, 2006 ECON 240A- 2 L. Phillips Midterm 25 5 0 0 2 26 0 27 0 3 2 28 9 29 30 6 31 32 33 34 1 0 2. (20) The data for shuttle launches prior to the Challenger disaster follows. The data is divided into three groups by launch temperature, Low: 53-67 degrees Fahrenheit, Moderate: 68-73 degrees Fahrenheit, and High: 75-81 degrees Fahrenheit. As discussed in class, a no means there were zero o-ring failures for the launch. A yes means there were one or more o-ring failures. Low Moderate High Temp F O-Ring Failure Temp F O-Ring Failure Temp F O-Ring Failure 53 yes 68 no 75 yes 57 yes 69 no 75 no 58 yes 70 no 76 no 63 yes 70 yes 76 no 66 no 70 yes 78 no 67 no 70 no 79 no 67 no 72 no 80 no 67 no 73 no 81 no a. What is the probability of a launch with an o-ring failing for the Low temperature sub-sample? _ 0.5 ___ b. What is the probability of a launch with an o-ring failing for the Moderate temperature sub-sample? _ 0.25 ___ c. What is the probability of a launch with an o-ring failing for the High temperature sub-sample? _ 0.125 ___ d. Assume the probability that one or more o-rings fails in a given launch is 0.5, what is the probability of observing exactly one launch with an
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Nov. 7, 2006 ECON 240A- 3 L. Phillips
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midterm2006_key - Nov 7 2006 Answer all four questions ECON...

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