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Department of EconomicsProfessor Dale J. PoirierUniversity of California, IrvineOctober 30, 2007MIDTERM 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.(10)1.Consider a random variable X defined by Y = ln(X), where E(Y) = 0. Is E(X) greaterthan, less than, or equal to one?
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