2004-11+Test2S - ECMB11H3 Quantitative Methods in Economics...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 ECMB11H3 Quantitative Methods in Economics I Section L30, Fall 2004 Division of Management and Economics University of Toronto at Scarborough Dr. Yu Test 2 Date: Wednesday, November 17, 2004 Time allowed: Two (2) hours Aids allowed: Calculator and one aid sheet (two 8.5"x11" pages) Notes: This test consists of 19 questions in 9 pages including this cover page. It is the student’s responsibility to hand in a complete test. Any missing page will get a zero mark. Statistical tables (Binomial, Poisson and Standard Normal) are provided separately. Show your work in part 2. No marks will be given if you do not show your work. This test is worth 30% of your course grade. Print Last Name: Solution Given Name: Student Number: Do not write on the space below, for markers only. Page Question Total Mark 2-5 1-20 60 6 21 10 7 22 10 8 23 10 9 24 10 Total 100
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Part 1 Multiple Choice. 3 marks for each question. Select the BEST answer. No part marks. 1. Suppose X is a random variable with () 2 = X E and () [] 5 4 = X X E . The standard deviation of –4 X + 12 is equal to (a) 1 (b) 3 (c) 9 (d) 12 (e) 144 2. If X follows a normal distribution with mean µ and standard deviation σ , then ) ( < X P is closest to (a) 0.1587 (b) 0.3413 (c) 0.6587 (d) 0.8413 (e) 0.95 3. Daily sales at a store follow a normal distribution with a mean of $10,000. On 95 percent of days the store sells less than $13,290. The probability that sales will exceed $12,000 is equal to: (a) 0.0793 (b) 0.1587 (c) 0.2580 (d) 0.3413 (e) 0.8413 4. The probability distribution for discrete random variable X is given by: P ( X =1) = 0.10, P ( X =2) = 0.40, P ( X =3) = 0.50. In a random sample of size 64, the probability that the sample mean is less than 2.50 is approximately equal to: (a) 0.3861 (b) 0.5223 (c) 0.6120 (d) 0.7754 (e) 0.8861 5. In order to estimate the average time spent on the computer terminals per student at a local university, data were collected for a sample of 81 business students and the sample mean is 9 hours. Assume the population standard deviation is 1.8 hours, a 95% confidence interval is (a) 7.04 to 10.96 hours (b) 7.36 to 10.64 hours (c) 7.80 to 10.20 hours (d) 8.61 to 9.39 hours (e) 9.05 to 10.34 hours
Background image of page 2
3 Questions 6-7. Use the following information . The average number of calls received by a switchboard in a 30-minute period is 15. Assume that the number of calls follow a Poisson distribution and phone calls are independent. . 6.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 9

2004-11+Test2S - ECMB11H3 Quantitative Methods in Economics...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online