2006-11+Test2S - ECMB11H3 Quantitative Methods in Economics...

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1 ECMB11H3 Quantitative Methods in Economics I Section L30 and L60 Fall 2006 Division of Management and Economics University of Toronto at Scarborough Dr. Yu Test 2 Date: Saturday, November 18, 2006 Time allowed: Two (2) hours Aids allowed: Calculator and one aid sheet (two 8.5"x11" pages) Notes: This test consists of 21 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 2-4 1-16 48 5 17 10 6 18 10 7 19 12 8 20 10 9 21 10 Total 100
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2 Part 1 Multiple Choice. 3 marks for each question. Select the BEST answer. No part marks. 1. Let X be a random variable with probability density function below. () = elsewhere x kx x f , 0 2 0 , The probability 1 < X P is equal to (a) 0.15 (b) 0.25 (c) 0.35 (d) 0.5 (e) none of these 2. Let X be a Binomial random variable with n = 4 independent trials. Suppose 3 1 = = = X P X P . The value of 2 = X P is closest to (a) 0.075 (b) 0.175 (c) 0.275 (d) 0.375 (e) 0.475 3. Let X be a Poisson random variable and ( ) 2 1 = = = X P X P . The value of 5 = X P is closest to (a) 0.0031 (b) 0.0153 (c) 0.0361 (d) 0.1008 (e) 0.1680 4. Let X be the mean of a random sample of size n from a normal distribution with mean µ and variance 10. Suppose ( ) 954 . 0 5 . 0 5 . 0 = + X X P , the value of n is closest to (a) 62 (b) 84 (c) 106 (d) 135 (e) 160 Questions 5-6, use the following information. Suppose the weight of salmon filets in Restaurant A is normally distributed with mean 1.1 pounds and standard deviation 0.22 pounds. John is considering going to this restaurant for salmon filets. 5. The probability that John will be served a salmon filet that is over 1.3 pounds is closest to (a) 0.0793 (b) 0.1814 (c) 0.3816 (d) 0.8186 (e) 0.91 6. Suppose John is told that Restaurant B also serves salmon filets with the same average weight, but there is a higher chance of getting a salmon filet over 1.3 pounds. If the weight of salmon filets in Restaurant B is also normally distributed, the standard deviation of the weights of salmon filets in Restaurant B is (a) 0.22 pounds (b) less than 0.22 pounds (c) more than 0.22 pounds (d) none of above
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3 Questions 7-8, use the following information .
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This note was uploaded on 04/21/2011 for the course ECMB 11 taught by Professor Yu during the Spring '04 term at University of Toronto- Toronto.

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2006-11+Test2S - ECMB11H3 Quantitative Methods in Economics...

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