Confidence Level I
90% 1.545
95% 1.96
98% 2.33
99% 2.58
Required Sample Size for Estimating a Population l'u'lean
31.51
2 where n = required sample size
2
z = z value for which :3: corresponds to the
desiredlevel of condence
o' = known [or: if necessarvi
Binomial Distribution
Mean = = E(x) = n
Permutation ORDER is IMPORTANT
Variance =
2
2 = E [ ( x) ] = n
(1 )
Combination ORDER is NOT IMPORTANT
[Type a quote from the document or
the summary of an interesting point.
You can position the text box
anywher
= Mean = average
Struges Rule to find the number of classes
Median = midpoint
k =1+ 3.322(log 10 n)
Mode = most frequent
maxmin
Class Width=
n
Range=max min
Frequency Distribution
Rel Freq
Classes
Freq
RF=
Midpoint
a
b
c
d
Weighted Mean
wi
x
n
Cum Freq
C
3/4/2017
Chapter Outline
The Balance-of-Payments
Chapter 10
Double Entry Accounting
Balance-of-Payments Structure
U.S. Balance-of-Payments
What Does a Current Account Deficit (Surplus)
Mean?
Balance of International Indebtedness
The Dollar as the Wo
2/6/2017
Chapter Outline
Chapter 2
Historical Development of Modern Trade Theory
Production Possibilities Schedules
Trading Under Constant Cost Conditions
Dynamic Gains from Trade
Changing Comparative Advantage
The Impact of Trade on Jobs
Wooster,
3/31/2017
Chapter Outline
Regional Integration versus Multilateralism
Types of Regional Trade Agreements
Effects of a Regional Trading Arrangement
Impetus for Regionalism
The European Union
Economic Costs and Benefits of a Common
Currency: The European Mo
2/4/2017
Chapter Outline
Chapter 1
The International Economy and
Globalization
Globalization of Economic Activity
Waves of Globalization
The U.S. as an Open Economy
Why is Globalization Important?
Globalization and Competition
Common Fallacies of Internat
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,