2007-10+Test1S - ECMB11H3 Sections L30 and L60 Quantitative...

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1 ECMB11H3 Sections L30 and L60 Quantitative Methods in Economics I Department of Management University of Toronto at Scarborough Fall 2007 Dr. Yu Test 1 Date: Monday October 15, 2007 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 23 questions in 11 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 Max Mark 2-5 1-18 54 6 19 8 7 20 8 8 21 10 9 22 10 10-11 23 10 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 . 1. Given a sample of 5 observations: 0, 1, 1, 3, 5. The sample standard deviation is closest to (a) 1.79 (b) 2.00 (c) 2.57 (d) 3.00 (e) 3.57 2. The following is a summary of test scores in a course with a large number of students: Percentiles Minimum 10 th 25 th 50 th 75 th 90 th Maximun 10 48 55 66 78 87 93 Which one of the following statements is NOT correct ? (a) The range of the test scores is 83. (b) 50% of the class received a test score of 66 or more. (c) About 50% of the class received a test score between 55 and 78. (d) About ¼ of the class received a test score of 55 or less. (e) About ¾ of the class received a test score of 75% or less. 3. Consider the following sample data: 5 5 5 5 8 8 10 10 10 After the mean, median, range and standard deviation were calculated, it was discovered that one of the sample values which equals to 10 should have been an 8. Which one of the following will change when the calculations are redone using the correct sample value? (a) Mean and range (b) Median (c) Mean and variance (d) Variance and range (e) Mode 4. Let A and B be two events with probabilities P ( A )=0.3 and P ( B ) =0.4. Which one of the following statements is always true? (a) 7 . 0 ) ( = B A P (b) 12 . 0 ) ( = B A P (c) Both (a) and (b) are always true (d) Only (a) is true, (b) is false (e) none of the above is always true.
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3 5. Suppose that X and Y are independent random variables with the following marginal probabilities: X Y 1 2 P ( Y ) 1 0.6 2 0.4 P ( X ) 0.3 0.7 1.0 The probability () 1 | 2 = = Y X P is equal to (a) 0.2 (b) 0.4 (c) 0.6 (d) 0.8 (e) none of these 6. Let A and B be two events with () 4 . 0 = A P , () 3 . 0 = B P and () 0 = B A P . Which one of the following statements is correct? (a)
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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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2007-10+Test1S - ECMB11H3 Sections L30 and L60 Quantitative...

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