stat104midtermv1_mikev9

stat104midtermv1_mikev9 - Stat 104: Quantitative Methods...

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1 Stat 104: Quantitative Methods for Economists Fall 2010 Midterm Examination Directions Put away all laptops and cell phones. The exam will end 90 minutes after it begins. The exam is divided into two parts. The first part is multiple choice. Please answer the multiple choice questions on the exam by circling the best answer (some rounding might occur). There will be no partial credit for these questions. The second part of the exam consists of several problems. Please answer these problems in the space provided on the exam (you may use the backs of the sheets if necessary). You will get partial credit for these problems provided that your answers are organized and legible so that your train of thought can be easily followed. Good Luck By Printing my name below I acknowledge that Harvard has an honor code and that I will adhere to it. Failure to abide by the honor code could result in failing this course and having to wash Professor Parzen’s car with my toothbrush. NAME : __________________________________________ (-50 if not printed) Question Points Obtained Multiple Choice 60 Long 1 3 Long 2 6 Long 3 15 Long 4 9 Long 5 9 Total 102
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Multiple Choice (3 points each) 1) At a school better known for football than academics (Brown), it is known that only 20% of the freshman scholarship athletes graduate. The school is able to give 55 freshman scholarships for football. What are the expected mean and standard deviation of the number of graduates for a group of 55 freshman scholarship athletes? a) 11,8.8 b) 12,2.97 c) 44,2.97 d) 44,8.8 e) 11,2.97 f) None of the above 2) A local country club has a membership of 600 and operates facilities that include an 18-hole championship golf course and 12 tennis courts. Before deciding whether to accept new members, the club president would like to know how many members regularly use each facility. A survey of the membership indicates that 69% regularly use the golf course, 45% regularly use the tennis courts, and 10% use neither of these facilities regularly. Given that a randomly selected member uses the tennis courts regularly, find the probability that they also use the golf course regularly. a) 0.533 b) 0.24 c) 0.945 d) 0.294 e) 0.69 f) None of the above 3) If you buy a randomly generated ticket for the pick three Georgia lottery, the probability of winning $500 is 1/1000. Which of the following must be true? a) If you and 999 friends each buy a randomly generated ticket, one of you will win. b) If this is your 1000th time playing the lottery, you have a better chance of winning. c) If you buy 1000 randomly generated tickets, then you will win $500. d) If you buy 2,000,000 randomly generated tickets, 2,000 of them will be winning tickets. e)
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stat104midtermv1_mikev9 - Stat 104: Quantitative Methods...

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