Stat 104: Quantitative Methods for Economics
Homework 5: Due Monday, October 17
Homework policy: Homework is due by 8:00AM (EST) on the due date. Homework is
to be handed in via the course website in pdf format. You do not need to type the
homework; there
Stat 104 Fall 2016
Section #1 SOLUTIONS
Topics for section
Introductions and logistics
Sources of data
o Experiments vs. Observational Studies
Graphs: dotplots, histograms, scatterplots
Summary Statistics (mean, median, quartiles, variance and standar
Stat 104 Fall 2016
Section #2 SOLUTIONS
Topics for section
Section 2 covers material from the following classes:
Class 4: Descriptive Statistics, Part II
Linear Transformations of Data
Chebyshevs Inequality and the Empirical Rule
Detecting Outliers
Tr
STAT 104: Solution to Mid-term 1, Spring 2015
March 2, 2015
1
Multiple Choice
Number Answer
1
A
2
E
3
C
4
C
5
A
6
C
7
B
8
C
9
D
2
Number Answer
10
B
11
E
12
B
13
C
14
E
15
A
16
C
17
C
Short Answer
1. (12 points)
(a) (3 points)
P (Cure) = P (Cure with anti
Fall 2015 Exam 1 Solutions
Question
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
!
B
A
D
E
A
C
C
B
C
A
B
E
B
D
B
E
C
!
B
A
D
C
D
E
C
B
A
A
C
E
B
C
D
E
C
1
Short Answer
1) (12 points) Suppose the heights of boys and girls in a certain large school are
uniform
Stat 104: Exam 1 Solutions
True/ False#1
If X is a random variable, E(X) must be less than 1.
a) True
b) False
E(X) can take on any value
True/False #2
For any two random variables X and Y, if Var(X+Y)= Var(X)+Var(Y), th
Stat 104 Fall 2016
Section #5
Topics for section
Class 17: Central Limit Theorem
Sampling From a Population
Sampling Distribution of the Sample Mean
The Central Limit Theorem
Class 18: Columbus Day
Class 19: Estimation Theory
Sampling Distribut
Homework 1
:
P ROBLEM 1:
a) The store Manager did not select the right sample that would represent his customers. He
should have selected random customer at different times.
b) The manager selected homes in only southwest corner only. He should have selec
Stat 104: Quantitative Methods for Economics
Homework 5 Help
Central Limit Theorem for Means
2
If a population is normally distributed then X ~ N , for any size n.
n
At a college the weight of the male students can be modeled by a normal distribution w
Stat 104: Quantitative Methods for Economics
Homework 4 SOLUTIONS: Due Sunday, October 2
1) The joint probability mass function of random variables X and Y is given by
a) Are X and Y independent? Justify your answer
Not independent. May justify it several
Frequency Distribution and Histograms
Ordered arraysequence of data ranked in order (smallest to largest)
Frequency Distributionsummary table where data is arranged into
numerical order classes
Allow us to organize and summarize large data sets by
grou
Measures of Variation
Three measures
1) Measures of Center
2) Measures of Variation
3) Measures of Relative Standings
Measures of variation give information on the spread or variability or
dispersion of data values
Range= (largest #) (smallest #)
Doesnt
Classification of Data
Sample is population
Sample=statistic
Population=parameter
Quantitative vs. Qualitative (categorical)
Quantitativeresponses numerical in nature and perform
calculations
Qualitative (categorical)pieces of information that allow
Relative Standing, Quartiles, and Boxplots
Z-scorenumber of standard deviations between x and the mean
Number-mean/Standard Deviation
Percentilesmeasures of location; divides a set of data into 100
groups with about 1% of values on each group
Can get d
1.9
If we were running a Not-for-Profit business our goals would be to
maximize the equity value our company provides, find efficient and
effective ways to offer our goods and services to the public, be
informative to potential clients and the public, and
Applications of Calculus
Takehome Exam #2
due Wednesday, December 17
Complete the following problems on separate paper, being sure to show your work
and explain your reasoning. You may use your book and notes, but please do not
discuss these problems with
Applications of Calculus
Takehome Exam #1
due Tuesday, November 4
Complete the following problems on separate paper, being sure to show your work
and explain your reasoning. You may use your book and notes, but you please do not
discuss these problems wit
Complete each problem, finding the exact answer when possible.
Please show and explain all of your work completely and carefully.
1. A ball is thrown into the air from the top of a building so that its height above ground t seconds
after the ball is throw