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econometrics hw 1

# econometrics hw 1 - Muhammad M Mazhar Econ 420 HW1 th...

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Muhammad M Mazhar Econ 420 HW1 September, 8 th 2011 Problem Set 1 Due Date: Thursday, September 8 1. (1 point) Provide one example of each type of data (not from the book or lecture notes): a) cross-sectional data Measuring the income of random induviduals at a highschool and their GPA whithout any regard to time b) panel data The levels of CO 2 in the air and pulminary desease patients in the US. The study is done over 50 years c) time series data A look at a families income throughout 20 years time. 2. (3 points) Let X be a discrete random variable characterized with the following probability distribution: X 0 1 2 3 4 P(x) 0.4 0.20 0.20 0.10 0.10 a) Calculate, E(X). E(X) = 1.3 b) Calculate variance, var(X). Variance = 1.81 c) Calculate standard deviation, sd(X). Standard Deviation = 1.345362 Work on Excel SD X P(X) (X- Mean)^2 0 0.4 1.69 1 0.2 0.09 2 0.2 0.49 3 0.1 2.89 4 0.1 7.29 Mean = Expected value 1.3 Variance 1.81 Standard Deviation 1.34536 2

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Muhammad M Mazhar Econ 420 HW1 September, 8
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econometrics hw 1 - Muhammad M Mazhar Econ 420 HW1 th...

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