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Econ2P91_midterm_final_SOLUTIONS_Fall2009

# Econ2P91_midterm_final_SOLUTIONS_Fall2009 - ECON2P91...

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ECON2P91: Business Econometrics with Applications Mid-term Examination Date: October 17, 2009 NAME:_______________________________ STUDENT NO: ________________________ LECTURE SECTION: Section 1 Monday night: 7:00-10:00 pm. Section 2 Friday afternoon: 2:00-5:00 pm. Instructions: Answer all questions from Sections A and B The Standard Normal Distribution table is provided ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Section A: Multiple Choice [40 points; 2 points each] 1. The expected value of a discrete random variable a. is the outcome that is most likely to occur b. can be found by determining the 50% value in the cumulative distribution. c. equals the population mean d. is computed as a weighted average of the possible outcome of that random variable, where the weights are the probabilities of that outcome Answer: _D_____ 2. The correlation between X and Z 3. To standardize a variable you 4. The sample average is a random variable and THIS BOX IS FOR MARKERS ONLY: Section A _____/40 Section B _____/60 Total _____/100 1

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5. According to the Central Limit Theorem, the mean of y is a. n y / μ b. y μ c. n y / μ d. n y / σ Answer: __B____ 6. An estimator is 7. The correlation coefficient 8. Which of the following is an example of panel data?
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