Economics 320 Homework 2 1. Suppose that in the packaged-serial industry, 29% of all vice presidents hold MBA degrees, 24% undergraduate business degrees, and 8% hold both. A vice president is to be selected at random. a. What is the probability that
Economics 320 Homework 4 Probability Distributions and Discrete Random Variables, including Binomials 1. Find the Probability that X = 2 for each of the following: a. P(x) = (1/33)x5 x=1,2 5 b. P(x) = (1/1312)(x +3) x=1,2,3,4
2. For each of the foll
Solutions to Homework 5:
1. In the World Cup soccer match, the average is 2.7 goals per game. In a particular game,
let X be the number of goals.
a. If you want to find the probability of x goals, should you use Binomial or
Poisson, Why?
Since the lamda i
Economics 320: Homework The Poisson Distribution and Joint probability distributions. 1. In the World Cup soccer match, the average is 2.7 goals per game. In a particular game, let X be the number of goals. a. If you want to find the probability of x
Economics 320 Homework 3 Conditional Probabilities: 1. You are playing poker and 16 cards have been dealt out of one deck. You are holding two Kings. a. What is the probability that the next card is a King? 2. A golfer has 12 golf shirts in his close
Economics 320 Homework 3 Conditional Probabilities: 1. You are playing poker and 16 cards have been dealt out of one deck. You are holding two Kings. a. What is the probability that the next card is a King? i. P(King3 | 2Kings already dealt) = 2 / 36
Solutions to Problem Set 2
1. A=MBA; B = Undergraduate; P(A)=0.29, P(B)=0.24, P( A B) =0.08 a. P( A B) =P(A)+P(B)- P( A B) =0.29+0.24-0.08=0.45 b. P( A B ) =1- P( A B) =1-0.45=0.55 c. P ( A B ) + P ( A B ) = P(A)+P(B)- 2 P( A B) i. Here we subtract P
Econ 320: Problem Set 1 An exercise on summation and descriptive statistics The following sample includes five observations, and several variables, including X and Y. Obs 1 2 3 4 5 X 12 10 17 3 8 Y 4 5 1 10 5
Calculate the following quantities
1.
Econ 320: Problem Set 1 An exercise on summation and descriptive statistics The following sample includes five observations, and several variables, including X and Y. Obs 1 2 3 4 5 X 12 10 17 3 8 Y 4 5 1 10 5
Calculate the following quantities
n
Xi
Economics 320 Homework 4 Answers 1. Find the Probability that X = 2 for each of the following: a. P(x) = (1/33)x5 x=1,2 b. P(x) = (1/1312)(x5+3) x=1,2,3,4 a. P(2) = (1/33)(25) = 32/33 = 0.9697 b. P(2) = (1/1312)(25 + 3) = 0.0267 2. For each of the fo
Economics 320: Homework 6 Continuous Distributions: Uniform and Normal
1. America West Airlines reports the flight time from Los Angeles to Las Vegas is 65 minutes. Suppose the actual flying time is uniformly distributed between 60 and 70 minutes. a.
Economic Statistics: Homework 8 (Estimation) Interval Estimation of Population Mean: Variance Known 1. A random sample of sixteen observations from a normal population with standard deviation of 6 had mean 25. Find a 90% confidence interval for the p
Economic Statistics: Homework 9 Confidence Interval Estimation of the Population Variance: 1. The weights of 20 oranges (in ounces) are shown below.
5.5 6.25 6.25 6.5 6.5 7 7 7 7.5 7.5 7.75 8 8 8.5 8.5 9 9 9.25 10 10.5
a. Construct a 95% CI for the
Economic Statistics Homework Assume the following simple regression model Yi= 1+ 2Xi + ei 1. Give the data in the following table
X 7 5 2 4 7 Y 3 9 1 4 3
a. Estimate b1 and b2 and interpret the result b. Calculate and interpret the R2 c. Test the n
Economic Statistics: Homework 9 Confidence Interval Estimation of the Population Variance: 1. The weights of 20 oranges (in ounces) are shown below. a. Construct a 95% CI for the population mean. The mean of the sample is 7.775. The population varian
Economic Statistics: Homework 10 Tests of Population Proportion, Tests of Mean Differences, Tests of Population Variance. 1. A hospital is comparing its performance against an industry benchmark that no more than 50 percent of normal births should re
Economic Statistics: Homework 10
Tests of Population Proportion, Tests of Mean Differences, Tests of Population
Variance.
1. A hospital is comparing its performance against an industry benchmark that no
more than 50 percent of normal births should result
Economics 320: Homework 7 Continuous Distributions: Exponential Sampling Distributions
EXPONENTIAL DISTRIBUTION: 1. Automobile warranty claims for engine mount failure in a Troppo Malo 2000 SE are rare at a certain dealership, occurring at a mean rat
Economic Statistics: Homework 8 (Estimation) Interval Estimation of Population Mean: Variance Known 1. A random sample of sixteen observations from a normal population with standard deviation of 6 had mean 25. Find a 90% confidence interval for the p
Economics 320: Homework 6 Continuous Distributions: Uniform and Normal
1. America West Airlines reports the flight time from Los Angeles to Las Vegas is 65 minutes. Suppose the actual flying time is uniformly distributed between 60 and 70 minutes. a.
Economics 320: Homework 7 Continuous Distributions: Exponential Sampling Distributions
EXPONENTIAL DISTRIBUTION: 1. Automobile warranty claims for engine mount failure in a Troppo Malo 2000 SE are rare at a certain dealership, occurring at a mean rat