Exports (Receipts)
Exports of Goods and Services
Goods
Services
U.S. Travel and Tourism
Travel
Passenger fares
% Change of Total T&T Receipts (from previous year)
% Change of 'Travel' Receipts
% Change of 'Passenger' Receipts
% of Total U.S. Exports (Good

Appendix B
Expected Value: the sum of products of the values taken by the r.v. and their
corresponding probabilities.
Properties of Expected Value
E (b)=b *Expected value of a constant is a constant.
E(X+Y)= E(X)+E(Y)
E(XY)= E(X)E(Y) *Only if the varia

NAME:_
EC 311 Homework 6
Answer the following questions:
1. What are the objectives of Regression Analysis?
Answer:
To estimate the mean of the dependent variable, given the values of the independent
variables.
To test hypotheses about the nature of the

Practice for final exam
1.
2.
3.
4.
What are mutually exclusive events?
What is the meaning of statistical independence?
What is the meaning of conditional probability function?
If the correlation coefficient between two variables is zero, it means that t

Practice for final exam
1.
2.
3.
4.
What are mutually exclusive events?
What is the meaning of statistical independence?
What is the meaning of conditional probability function?
If the correlation coefficient between two variables is zero, it means that t

Maria Cumbe
EC 311 Homework 6
1. What are the objectives of Regression Analysis?
1. To estimate the mean, or average, value of the dependent variable, given the values of
the independent variables.
2. To test hypotheses about the nature of the dependenceh

Maria Cumbe
Homework
10/12
EC 311
2.12)
50000
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
40000 50000 60000 70000 80000 90000 100000 110000 120000
A.
B. The scatterplot shows that the relationship between the S&P and CPI is
positive.
C. ( SP )

EC 311-01
Name:_
Second Exam Practice
1) What are the assumptions of the Classical Linear Regression Model for multiple
regressions?
2) State and give a brief explanation of whether the following statements are true or
false.
a. A linear regression model

EC 311-001
Name:_
FIRST EXAM PRACTICE
Please answer all of the following questions showing all of your work so that I can give
you partial credit if you make mistakes.
1) Of a group of 100 people, 50 are Democrats, 40 are Republicans, and 10 are
Independe

EC 311 Homework 4 Key
2.12
a.
S&P
350
300
250
200
S&P
150
100
50
0
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
b. Theory predicts a positive relationship between the S&P index and Consumer Price Index. The graph
clearly shows that positive relationship.
c.

EC 311. Homework 2. Answer key
C.10. Profits (X) in an industry consisting of 100 firms are normally distributed with a
mean value of $1.5 million and a standard deviation of $120,000. Calculate:
a. P(X< $1 million).
b. P($800,000 < X< 1,300,000).
In othe

Hwk 5 answer key
4.11. To explain what determines the price of air conditioners, B.T. Ratchford obtained the following
regression results based on a sample of 19 air conditioners:
Yi = 68.236 + 0.023 X 2i + 19.729 X 3i + 7.653 X 4i
R 2 = 0.84
se =
(0.005)