midterm1_1

# midterm1_1 - ECON 139 Duke University Spring 2008 Midterm 1...

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ECON 139 Duke University Spring 2008 Midterm 1 Instructions (PLEASE READ CAREFULLY before starting): This test has a total of 3 problems and 72 points . You have 75 minute Remember to Show Your Work and please be sure that your handwriting is legible ! Be precise but brief. If a correct reply is hidden among wrong, or irrelevant, arguments, you will not get full credit. We will grade only what is written on your exam sheet. There should be plenty of space for all your calculations. There are two extra pages included at the end of the exam to be used as scratch paper. Do not turn in anything besides your exam sheet . Standard errors are in parentheses (unless otherwise noted). Name: TA: Section Day and Time: 1

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Let Y denote the sample average from a random sample with mean and variance ± 2 : Consider two alternative estimators of : W 1 = n 1 n Y and W 2 = Y 2 : a. (4 points) Show that W 1 and W 2 are both biased estimators of happens to the biases as n ! 1 ? Comment on any important di/erences in bias for the two estimators as the sample size gets large. b. (4 points) Find the probability limits of W 1 and W 2 . Is either estimator consistent? 2
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## This note was uploaded on 08/03/2011 for the course ECON 139 taught by Professor Alessandrotarozzi during the Spring '08 term at Duke.

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midterm1_1 - ECON 139 Duke University Spring 2008 Midterm 1...

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