ECON 230 Final Practice

# ECON 230 Final Practice - \CX ~ Econ 230 Final Practice...

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Unformatted text preview: (\CX ~, Econ 230, Final Practice Name: 1. Sara buys 4 tires for her car. This brand of tire has a 0.6 probability of lasting more ' than 50,000 miles. Assume independence for the lives of each tire. (\ . -————--’ l x '. («x-x" ' . . . . ~ a. What is the probabihty that none of the 4 tires last more than 50,000 miles? “Cx (P5 (only "‘ CO (clots? ”c u E . .. , c: i 05th:!) ' ‘ .oere, b. What is the probability that at least one tire lasts more than 50,000 miles? . one) ”'l-mse: few ’L'c‘(.o3l(.t1)3=._i.‘-_ I 1(3) 1 2. Assume that you want to test whether boxes of Trader Joe’s Pretzel Slims contain Ll exactly 8 ounces of pretzels as claimed by the manufacturer. How could yéu make a ' Type II Error in this context? l 1 j j‘ a. The claim is true and you reject it b. The claim is true and you fail to reject it w r“— J t '_ {2' in kiwi“ (1,3! The claim is false and you reject it 'i Z)“ Ll C for a :30“ ' a The claim is false and you fail to reject it 0t: c :91 I“ 3. You are doing a hypothesis test with three possible levels of signiﬁcance: 2.5%, 3.5% and 5%. Under which level of signiﬁcance is the probability of rej ecting a true I hypothesis the highest? a. 2.5% b. 3.5% @ d. cannot be determined 1,: 5,; s 4. The p-value for a right tailed hypothesis test is .1037. The p-value for a second right tailed hypothesis test is 0.0564. At a 10% level of signiﬁcance, the null hypothesis will: ' a. be rejected for the ﬁrst and second test b. be rejected for the ﬁrst but not the second test . not be rejected for either test @ be rejected for the second but not the ﬁrst test Ea null hypothesis is rejected at the 9% level of significance for a left tailed test, I o " (>in ' i which of the following is true? ' a. it will be rejected at the 5% level of signiﬁcance b. it will not be rejected at the 7% level of signiﬁcance twill be rejected at the 2% level of signiﬁcance @One of the above is true". TY)?“ Ham“ : “”1 “A \va («jut : L as. ...
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