statsexam3 09b

# statsexam3 09b - Economic Statistics Exam 3 Summer 2009...

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Economic Statistics Exam 3 Name: Summer 2009 PID: Please sign that you abide by the honor pledge: This exam contains twenty short answer questions ( worth 6 points each ) and four long answer questions ( worth 15 points each ) . Show your work clearly to be eligible for partial credit. In all problems where you need to make a calculation, simplify your answer as much as convenient. In questions with multiple parts, you should respond as if your answers to previous parts were correct. Short Questions ( 6 points apiece ) 1. When testing a hypothesis, there are two mistakes we can make. Name and describe these errors. 2. Mulberry trees are either male or female; each sex is equally likely. In order to get fruit, I will need one of each sex. Unfortunately, I can purchase only “unsexed” saplings, where the sex hasn’t been identified. How many saplings must I purchase in order to have at least a 0.75 chance of having at least one of each sex? 3. What is wrong with creating a pie chart, and then labeling the percentage of the sample that belongs in each wedge? 4. A random variable X takes on the values 1,2,3,4,5 with equal probability. What is the variance in X ?

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Econ 400 Exam 3, page 2 of 9. 5. According to my best calculations, there is a 0.20 chance that modern civilization collapses in the next year, a 0.30 chance that the current swine flu goes pandemic, and a 0.15 chance of both. What is the chance that neither disaster occurs? 6. Given that the swine flu pandemic happens, what is the chance that civilization collapses? 7. Construct a box - and - whisker plot with these numbers: 1,1,2,3,5,8,13,21,34,55,89,144,233,377,610,987,1597 8. What is the rule of thumb for approximating the standard deviation using the range of a sample?
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## This note was uploaded on 01/11/2012 for the course ECON 400 taught by Professor Turchi during the Fall '08 term at UNC.

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statsexam3 09b - Economic Statistics Exam 3 Summer 2009...

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