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08 STAT HWA a

# 08 STAT HWA a - Dr Valerie R Bencivenga Economics 329...

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Dr. Valerie R. Bencivenga Economics 329 PRACTICE ASSIGNMENT #8A: RIGHT ANSWERS 1.a. i X = days of absenteeism of employee i Obs n ,..., 1 i , X i are iid 2 , N with 2 2 5 1 , 0 N ~ n X because the population is normal 1 n z X n z X C u u 96 . 1 Z of quantile 975 . z 05 . 10 n 5 3 . 6 X u 2 2 95 . 10 5 96 . 1 3 . 6 10 5 96 . 1 3 . 6 C (full credit answer) 95 . 4 . 9 2 . 3 C b. 1 n z X n z X C u u   9604 n 98 96 . 1 2 2 . 5 n 2 . n 5 96 . 1 2 2 . n z 2 Length u 2.a. i X = interest rate charged on loan i Obs n ,..., 1 i , X i are iid 2 , N 1 n t ~ n s X because the population is normal (and the population variance is unknown) 1 n t X n t X C u u ) t using ( 75 . 2 t of quantile 995 . t 01 . 36 n 21 s 85 X 30 35 u (Use the table value for the closest degrees of freedom to 35, here either 30 or 40) 99 . 36 21 75 . 2 85 36 21 75 . 2 85 C (full credit answer) 99 . 625 . 94 375 . 75 C b. 2 1 n 2 2 ~ s 1 n because the population is normal 1 s ) 1 n ( s ) 1 n ( C 2 l 2 2 2 u 2 with 01 . ) using ( 67 . 53 of quantile 995 . and 79 . 13 of quantile 005 . 2 30 2 35 2 u 2 35 2 l (Use table values for closest degrees of freedom to 35, here either 30 or 40.) 99 . 79 . 13 21 ) 35 ( 67 . 53 21 ) 35 ( C 2 2 2 (full credit answer) 99 . 3 . 1119 6 . 287 C 2

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3.a. i X = fees applied to account i n ,..., 1 i , X i are iid ) , ( N 2 1 n t ~ n s X because the population is normal (and the population variance is unknown) 05 . , 60 s , 7 . 197 X , 34 n 2 2 1 n s t X n s t X C u u Here u t = 97.5 th percentile of 33 t . Use the 97.5 th percentile of 30 t = 2.042, the closest table value 95 . 34 60 042 . 2 7 . 197 34 60 042 . 2 7 . 197 C (full credit answer) 95 . 71 . 218 69 . 176 C b. 2 1 n 2 2 ~ s ) 1 n ( because the population is normal 05 . , 60 s , 34 n 2 2 1 s ) 1 n ( s ) 1 n ( C 2 l 2 2 2 u 2 Here 2 l = 2.5 th percentile of 2 33 , and 2 u = 97.5 th percentile of 2 33 . Use the 2.5 th and 97.5 th percentiles of 2 30 , which are 16.79 and 46.98, respectively (the closest table values).
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08 STAT HWA a - Dr Valerie R Bencivenga Economics 329...

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