2005-10+Test1S

# 2005-10+Test1S - ECMB11H3 Section L30 Quantitative Methods...

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1 ECMB11H3 Section L30 Quantitative Methods in Economics I Division of Management University of Toronto at Scarborough Fall 2005 Dr. Yu Test 1 Date: Wednesday October 12, 2005 Time allowed: Two (2) hours Aids allowed: Calculator and one aid sheet (two 8.5”x11” pages) prepared by student. Notes: This test consists of 20 questions in 9 pages including this cover page. It is the student’s responsibility to hand in all pages of this test. Any missing page will get zero mark. Show your work in each question in Part II. This test is worth 30% of your course grade. Print Last Name: Solution Given Name(s): Student Number: Do not write on the space below, for markers only. Page Question Total Mark 2-4 1-15 45 5 16 10 6 17 10 7 18 10 8 19 10 9 20 15 Total 100

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2 Part I. Multiple Choice. 3 marks in each question. No part mark. Circle only one answer . If there are more than one correct answer, circle the best one . Questions 1-3, use the following information. The following sample observations of x and some calculations are given below. x () 15 x () 2 15 x 10 -5 25 12 -3 9 16 1 1 17 2 4 20 5 25 Total 0 64 1. The standard deviation of x is closest to (a) 3.58 (b) 4 (c) 8 (d) 12.8 (e) 64 2. In the above table, suppose the value x = 20 is changed to x = 200, which one of the following statements is NOT true? (a) The new median of x remains at the same value. (b) The new median of x is changed to a larger value. (c) The new range of x is changed to a larger value. (d) The new standard deviation of x is changed to a larger value. 3. In the above table, if we multiply each value of x by 3 and then add -5. Which one of the following statements is true? (a) The new standard deviation remains at the same value. (b) The new standard deviation is equal to 3 times the original standard deviation plus -5. (c) The new standard deviation is equal to 3 times the original standard deviation. (d) The new range is equal to 3 times the original range plus -5. (e) None of the above is true. Questions 4-6, use the following information . Suppose the average weekly wage for summer students in Toronto is \$200 with a standard deviation \$40. 4. What percent of the summer students in Toronto have weekly wages between \$140 and \$260? (a) at least 55.5% (b) approximately 68% (c) at least 75% (d) approximately 95% (e) at least 99% 5. Suppose weekly wages for summer students in Toronto follow a bell-shape distribution. What percent of the weekly wages are between \$160 and \$240? (a) at least 55.5% (b) approximately 68% (c) at least 75% (d) approximately 95% (e) at least 99%
3 6. Suppose weekly wages for summer students in Toronto follow a bell-shape distribution. What percent of the weekly wages are below \$280? (a) 68%

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2005-10+Test1S - ECMB11H3 Section L30 Quantitative Methods...

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