HW_05_06_SOLN - ECO220Y Homework Lectures 5 6 SOLUTIONS(1...

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Page 1 of 2 ECO220Y: Homework, Lectures 5 & 6 – SOLUTIONS (1) Mean is 0.6572, median is 0.7, and mode is 1. (You should show your work.) (2) Many possible solutions. One example: 0 0 0 0 0 2 2 2 2 2 (3) The sample mean is about 150. It is reasonable to infer that this sample has been taken from a normal (bell shaped) population, which means that we can use the Empirical Rule as a guide. Hence, the sample standard deviation is about 20. (4) Given that all three have the same sample mean and sample range, we can focus on the shape of the distribution to answer. Sample 1 has the smallest sample standard deviation and Sample 3 has the largest sample standard deviation. You should explain the intuition. (5) These data are unusual in that there are a large number of people reporting an age of 66: at least 10% of the sample. Between 5% and 10% of the sample are 30 years old or less: hence, somewhere between 325 and 649 people are 30 years old or less. One person is 19 years old. We know that there are at least 3 people
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This note was uploaded on 03/01/2011 for the course ECON 220 taught by Professor Tanaka during the Spring '11 term at University of Toronto.

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HW_05_06_SOLN - ECO220Y Homework Lectures 5 6 SOLUTIONS(1...

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