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Department of EconomicsProfessor Dale J. PoirierUniversity of California, IrvineOctober 31, 2006MIDTERM EXAMECON 220AStatistics and Econometrics I(open book)Directions: You must answer each of the following questions. Points (out of 100) are allocatedas noted to the left of each question. Allocate your time according to these points. To receive anypartial credit, you mustshow your work. Results from the text need not be reproduced in detail -you can merely cite the source.(20)1.A population of voters contains 40% Republicans and 60% Democrats. It is reportedthat 30% of the Republicans and 70% of the Democrats favor an election issue. Aperson chosen at random from this population is interviewed and found to favor theissue in question. Find the probability that this person is a Democrat.(20)2.Let Y be an integer-valued random variable for which P(Y = i) = p
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