ECON 340 International Economics (3 credits)
Course Outline Spring 2017
School of Business and Information Systems York College
Homework 2
Instructions:
This is homework 2. It covers chapters 4, 5 and 10 of the textbook. It should be typed and make sure t
ECON 340 International Economics (3 credits)
Course Outline Spring 2017
School of Business and Information Systems York College
Homework 1
Instructions:
This is homework 1. It covers chapters 1, 2 and 3 of the textbook. It should be typed and make sure to
Chapter 10: Hypothesis Tests Involving a Sample Mean or Proportion
TRUE/FALSE
1. True or False
A Type I error is the probability of failing to reject a false null hypothesis.
ANS: F
PTS: 1
OBJ: Section 10.1
2. True or False
A Type II error is the probabil
Chapter 9: Estimation from Sample Data
TRUE/FALSE
1. True or False
A confidence interval will allow us to say with complete certainty that our sample result will actually
include the population mean.
ANS: F
PTS: 1
OBJ: Section 9.3
2. True or False
If the
Chapter 7
7.2
d/p/m A continuous probability distribution is a smooth curve. A probability density function is
a function of x called f(x) which determines the shape of the curve. We speak of probabilities
in
terms of the probability that x will be within
Short Essay Questions:
[1] Why the sample mean can be considered a random variable?
In probability, a random variable is a variable whose value is subject to variations due to chance
(i.e.randomness).
A sample mean is calculated for each sample, which is
Chapter 1
1.2 d/p/m Statistical methods are useful in all facets of business today. Statistics can be used to describe
information, to analyze data, to reach conclusions, and to make decisions.
1.3 d/p/m Descriptive statistics are used to summarize and de
Chapter 8
Given = 62, = 15, n = 36, and
8.10 c/a/m
x
a.
n
15
36
b.
x
x 55 62
z
2.80
x
2.5
/ n
z
x
/ n
c.
z
z
x
/ n
x 60 62
0.80
x
2.5
x
/ n
d.
x 65 62
1.20
x
2.5
x 47 62
6.00
x
2.5
8.11 c/a/m Given = 62, = 15, n = 36, and
x
P(
2.5
n
15
36
2.5
<
Chapter 5
5.3 d/p/m The sample space consists of two possible outcomes: (1) IBM's net profit increases next year,
and (2) it does not. The possible events that could occur are:
B
= IBM's net profit increases next year
B'
= IBM's net profit does not increa
Chapter 4
Q2.
d. the us government pays $1 billion in interest to holder of u.s government bonds
interest will be spent in interest receiver so it is a transfer and in investiment
chapter 4 question 2
e.
import increase
net export decrese
gdp=c+i+g(increa
Chapter 4
Vocabulary
Gross Domestic Product(GPD): The market value of final goods and services produced in a country in a given
period of time
Domestic: within countrys border, nationality of owner dont count
Measured in two way: 1)market value 2) total s
Chap 10.
Recessions and expansion
Business cycles short-term fluctuations in GDP and other variables
Recession period in which the economy is growing at a rate significantly below normal(long)
Normal- is estimate by someone
Below normal more than 6 month,