02 STAT descriptive statistics 1-IC Q3

02 STAT descriptive statistics 1-IC Q3 - rent A farmer gets...

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Dr. V.R. Bencivenga Economic Statistics Economics 329 DESCRIPTIVE STATISTICS 1 INDEX CARD QUESTION 3 You are studying income of sharecroppers in South Asia. (Sharecropping is one form of tenant farming.) You have data for a large sample of rice farms. The sample mean of output per hectare (about 2.5 acres) is 250 kg of rice, and the sample variance of output per hectare is 3,600 (kg of rice) 2 . The tenant’s share is one -half (he keeps half of rice output and gives half to the landlord as
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Unformatted text preview: rent). A farmer gets $3 per kg of rice. A farmer pays $20 per hectare for seed and fertilizer. Income means income (in dollars) going to the farmer, net of costs . a. State income per hectare as a linear transformation of output per hectare. b. What is the sample mean of tenant income per hectare? c. What is the sample variance of net income per hectare?...
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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.

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