07 STAT HWA a - Dr. V.R. Bencivenga Economics 329 PRACTICE...

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Dr. V.R. Bencivenga Economics 329 PRACTICE ASSIGNMENT #7A: RIGHT ANSWERS 1.a. High speed: ) 00000676 . , 4 ( N ~ X i . Note that . 0026 . 00000676 . ) 92 . 1 Z 92 . 1 ( P 0026 . 4 005 . 4 X 0026 . 4 995 . 3 P ) 005 . 4 X 3995 (. P i i 9452 . 1 ) 9726 (. 2 1 ) 92 . 1 ( F 2 ) 92 . 1 ( F ) 92 . 1 ( F P(unit needs repair if produced at high speed) = 1 .9452 = .0548 Low speed: ) 00000361 . , 4 ( N ~ X i . Note that 0019 . 00000361 . . ) 63 . 2 Z 63 . 2 ( P 0019 . 4 005 . 4 X 0019 . 4 995 . 3 P ) 005 . 4 X 3995 (. P i i 9914 . 1 ) 9957 (. 2 1 ) 63 . 2 ( F 2 ) 63 . 2 ( F ) 63 . 2 ( F P(unit needs repair if produced at low speed) = 1 .9914 = .0086 b. High speed: 03 . 21 ) 40 . 10 ( 0548 . 45 . 20 ] C [ E Low speed: 84 . 20 ) 40 . 10 ( 0086 . 75 . 20 ] C [ E Producing at low speed has a lower expected cost. 2. i X = number of arrests in week i ) 19 , 166 ( N i.i.d. n ..., , 1 i , X 2 i n = 52 52 19 , 166 N ~ X 2 because the population is normal 0643 . 9357 . 1 ) 52 . 1 ( F 1 ) 52 . 1 Z ( P 52 19 166 170 n X P ) 170 X ( P 3. i X = length of time to diagnose electrical problem i (in minutes) i X are i.i.d. with ] X [ E i and 2 i 2 ) X ( Var n 2 , N ~ X 2 by the CLT provided n is large
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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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07 STAT HWA a - Dr. V.R. Bencivenga Economics 329 PRACTICE...

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