hw1ins - 1 MSPE PROGRAM Econ 506, Fall 2011 Instructions...

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MSPE PROGRAM Econ 506, Fall 2011 Instructions for Homework 1 In this homework, we will use Excel to generate random numbers and to compute several sample statistics to describe the generated data. Note that, in general, your answers will be different from your classmates given the random nature of the data. This note will guide you through the steps you should follow. At any point you can also click on Help on the corresponding Excel Window for a description of commands and available options. It is advisable to save your file often so that if something goes wrong you can restart on a previous step. Part I Question (i) 1. We need the Data Analysis function in the Excel. It should be available in the Data tab. If it is not, you have to install it. You can go to: http://www.mspe.uiuc.edu/ComputerTutorial/Excel/excel_tutorial1.htm to learn how to install it. 2. Go to Data tab and then Data Analysis . Go to Random Number Generation and Click Ok . 3. We will first generate a sample of 10 observations from the Uniform Distribution on the interval from 0 to 10. So in the blank for the category Number of Variables enter 1 and 10 for Number of Random Numbers . In the blank for Distribution choose Uniform as the distribution function. For the parameter range, type in
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hw1ins - 1 MSPE PROGRAM Econ 506, Fall 2011 Instructions...

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