asmt2_summer_sol

# Asmt2_summer_sol - UNIVERSITY OF VICTORIA Economics 246 Statistical Inference Summer 2011 Solutions to Assignment#2 Due Friday 29th of July 2011 12

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UNIVERSITY OF VICTORIA July 22, 2011 Economics 246: Statistical Inference Summer 2011 Solutions to Assignment #2 Due: Friday, 29 th of July, 2011, 12 noon. (In the box marked “Econ 246" near the Economics Department Office. Hand in your EViews. Question 1 :(8 marks) Refer to data below for ‘Census information on Income tax returns and average income for the ‘Greater Vancouver Area 2008.’ This is a population of values. Assume the data for average income has a standard deviation of 16,059.10137 and is normally distributed. A) Take a random sample of size 10 from the population using Eviews’ random number operator function. Determine the mean, standard deviation and range of the sample. Everyone’s answer should be different. (4 marks) The population variance is 257894736.8. 2008 # of returns average income Langley (C & DM) 97,430 Surrey 326,530 White Rock 17,170 Delta 77,760 Richmond 157,520 Vancouver 488,050 Burnaby 175,340 New Westminster 49,930 Coquitlam 93,570 Belcarra 540 Anmore 1,420 Port Coquitlam 42,060 Port Moody 23,750 North Vancouver (C & DM) 102,550 West Vancouver 35,510 Bowen Island 2,540 Lions Bay 970 Pitt Meadows 13,190 Maple Ridge 54,480

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My sample of income: Using EViews’ stat command, or Excel or by hand: X is the best point estimate of retail sales.
X n X i === 1 578947 10 57894 7 .

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## This note was uploaded on 01/27/2012 for the course ECON 204 taught by Professor Beryl li during the Spring '11 term at University of Victoria.

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Asmt2_summer_sol - UNIVERSITY OF VICTORIA Economics 246 Statistical Inference Summer 2011 Solutions to Assignment#2 Due Friday 29th of July 2011 12

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