HW#1EC420

# HW#1EC420 - Sarah Lowery EC 420 951010439 Homework #1 1)...

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Sarah Lowery EC 420 951010439 Homework #1 1) Pg. 9; Exercise R.1 Sample Space First Die Second Die 1 2 3 4 5 6 1 0 1 2 3 4 5 2 1 0 1 2 3 4 3 2 1 0 1 2 3 4 3 2 1 0 1 2 5 4 3 2 1 0 1 6 5 4 3 2 1 0 Probability Distribution Difference Frequency Relative Frequency 0 6 0.166666667 1 10 0.277777778 2 8 0.222222222 3 6 0.166666667 4 4 0.111111111 5 2 0.055555556 2) Pg. 9; Exercise R.3 (.1667*0)+(.2778*1)+(.2222*2)+(.1667*3)+(.1111*4)+(.0556*5)= 1.9444 Expected Value of X: 1.944444 3) Pg. 9; Exercise R.9 (.1667-1.9444)²+(.2778-1.9444)²+(.2222-1.9444)²+(.1667-1.9444)²+(.1111-1.9444)²+(.0556-1.9444)²= 3.1656 Population Variance of X: 3.1656 √3.1656 = 1.77922 Standard Deviation of X: 1.77922 4) Pg. 28; Exercise R.20 No. If you have two estimators of an unknown population parameter with different variances, it does not necessarily mean the one with a smaller variance is more efficient. One may have a small variance but may be biased while the other has a larger variance but is unbiased. The latter would be preferred in such case. 5) Pg. 66; Exercise 1.13

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## This note was uploaded on 02/26/2012 for the course ECON 421 taught by Professor Wilson during the Spring '12 term at University of Oregon.

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HW#1EC420 - Sarah Lowery EC 420 951010439 Homework #1 1)...

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