02 STAT descriptive statistics 1-IC Q3

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

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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?...
View Full Document

Ask a homework question - tutors are online