01 &amp; 02 STAT HWA q intro &amp; descriptive statistics

# 01 &amp;amp; 02 STAT HWA q intro &amp;amp; descriptive...

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Dr. Valerie R. Bencivenga Economics 329 PRACTICE HOMEWORK #1A: 1. Identify the following variables as continuous or discrete. Which of the discrete variables, if any, are dummy variables? a. number of factories operated worldwide by a manufacturing firm (you have data for a large number of manufacturing firms) b. percentage of output of an industry produced by the largest three firms (you have data for a large number of industries) c. marital status of head of household (you have data for a large number of households) d. number of employed persons in a household (you have data for a large number of households) e. average number of calories consumed per day (you have data for a large number of adults in a developing country) 2. For each of the following, say which measure of central tendency (mean, median, mode) you think is most appropriate, and briefly explain why. If you think the choice is ambiguous, explain why. Note: On an exam, you would be graded base d on your reasons. You don’t have to know the shape of the distribution. Say what you guess its shape to be, and then based on that guess, give the appropriate measure of central tendency. a. “typical” type of power plant used to ge nerate electricity in a country b. net worth (assets minus debt) of a “typical” household c. age of a “typical” wo rker in a particular occupation d. weekly hours worked by a “ typical” employed auto worker e. market value of a “typical” owner -occupied house 3. Consider two variables. The first is annual aggregate hours worked in the U.S., in millions. The second is annual aggregate U.S. output, in billions of constant 2002 dollars. You have a decade of data on these variables. Give the units of a. mean annual aggregate hours worked b. growth rate of annual aggregate hours worked c. variance of annual aggregate hours worked d. covariance between annual aggregate hours worked and annual aggregate output e. correlation between annual aggregate hours worked and annual aggregate real dollars of output 4. Suppose you have a large sample of data on one continuous variable. Consider adding one new

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## This note was uploaded on 02/26/2012 for the course ECONOMICS 329 taught by Professor Bencivenga during the Spring '12 term at University of Texas at Austin.

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01 &amp;amp; 02 STAT HWA q intro &amp;amp; descriptive...

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