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 s
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) =
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, sho
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
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
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
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 (
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
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
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)
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 u
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
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 resu
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
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
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
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 rar
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
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 u
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 rar