322Practice01Fall11 - 1 Instructor H.H Kim Econometrics...

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Instructor : H.H. Kim Econometrics 1 Practice Questions for Exam I 1) The table accompanying lists the joint distribution of unemployment in the United States in 2001 by demographic characteristics (race and gender). Joint Distribution of Unemployment by Demographic Characteristics, United States, 2001 White ( Y = 0) Black and Other ( Y = 1) Total Age 16 19 ( X = 0) 0.13 0.05 0.18 Age 20 and above ( X = 1) 0.60 0.22 0.82 Total 0.73 0.27 1.00 (a) What is the percentage of unemployed white teenagers? (b) Calculate the conditional distribution for the categories ʺ white ʺ and ʺ black and other. ʺ (c) Given your answer in the previous question, how do you reconcile this fact with the probability to be 60% of finding an unemployed adult white person, and only 22% for the category ʺ black and other. ʺ 2) Think of the situation of rolling two dice and let M denote the sum of the number of dots on the two dice. (So M is a number between 1 and 12.) (a) In a table, list all of the possible outcomes for the random variable M together with its probability distribution and cumulative probability distribution. Outcome (Sum of dots) 2 3 4 5 6 7 8 9 10 11 12 Probability Distribution 1/18 1/12 Cumulative Probability Distribution 1/12 1 (b) Calculate the expected value and the standard deviation for M . (c) Imaging at the probability distribution, you notice that it resembles a normal distribution. Should you be able to use the standard normal distribution to calculate probabilities of events? Why or why not?
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Fall 2011
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This note was uploaded on 10/04/2011 for the course ECON 322 taught by Professor Francisco during the Spring '07 term at Rutgers.

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322Practice01Fall11 - 1 Instructor H.H Kim Econometrics...

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