Dr. Valerie R. Bencivenga
Economics 329
Spring 2011
MIDTERM EXAM #2: RIGHT ANSWERS
1.a.
b.
c.
d.
2.a.
E[X] X .2(1) .3(2) .4(3) .1(4) 2.4
Var(X) 2 .21 2.4 2 .32 2.4 2 .43 2.4 2 .14 2.4 2
X
.392 .048 .144 .256
.84
R 20 25X
ER R 20 25 X 20 252.4 40 dollars
Dr. V.R. Bencivenga
Economics 329
Spring 2011
MIDTERM EXAM #1: RIGHT ANSWERS
(10 points)
1.a.
median 0
.5 0
5 0 4.1
.608
Not required: Here is how to calculate the 90th percentile using the same approach:
.9 .893
100 20 26.3
90th percentile 20
.089
b.
M
Dr. Valerie R. Bencivenga
Economics 329
PRACTICE HOMEWORK #6B: RIGHT ANSWERS
1.
INDEX CARD QUESTION (parts a and b), EXTRA CREDIT QUESTION (part c).
2.a.
This function is not a pdf, because the area under this pdf does not equal one:
2
dx x 0 2 0 2
2
0
b
Dr. V.R. Bencivenga
Economics 329
Economic Statistics
FREQUENCY DISTRIBUTIONSINDEX CARD Q1 & Q2
INDEX CARD QUESTION 1
The table below gives relative frequency distributions of educational attainment in the US at
decade intervals from 1940 to 1990. These a
Dr. V.R. Bencivenga
Economics 329
Economic Statistics
DESCRIPTIVE STATISTICS 1INDEX CARD Q 5
You are doing field work in India. You go into rural villages and you interview a large number of
families who are farmers. For each family, you record the follow
Dr. V.R. Bencivenga
Economics 329
PRACTICE HOMEWORK #4B: PROBABILITY THEORY
1.
All components leaving an assembly line are examined by two inspectors. Each inspector detects
85% of defective components (in other words, given that a component is defect ive
Dr. Valerie R. Bencivenga
Economics 329
PRACTICE HOMEWORK #1A: INTRODUCTION & DESCRIPTIVE STATISTICS
1.
Identify the following variables as continuous or discrete. Which of the discrete variables, if any, are
dummy variables?
a.
number of factories operat
Dr. V.R. Bencivenga
Economics 329
Economic Statistics
DESCRIPTIVE STATISTICS 1INDEX CARD QUESTION 3
You are studying income of sharecroppers in South Asia. (Sharecropping is one form of tenant
farming.) You have data for a large sample of rice farms. The
Dr. Valerie R. Bencivenga
Economics 329
You must turn in the questions, as well as your
answers, in order to receive a grade for this exam.
May 14, 2012
FINAL EXAM
Instructions: Answer the questions below in a blue book. For each problem, state the sample
Dr. V.R. Bencivenga
Economics 329
DISCRETE RANDOM VARIABLES
INDEX CARD QUESTION #1
A woman in a highland village in the Andes knits sweaters and sells them for export. She
also takes care of her family and helps farm the family land; therefore, the amount
Dr. Valerie R. Bencivenga
Economics 329
PRACTICE HOMEWORK #6B: CONTINUOUS RANDOM VARIABLES
1.
a.
b.
c.
2.
An airline knows that the duration of the flight from Pittsburgh to Minneapolis is uniformly
distributed between 120 and 140 minutes. The flight depa
Dr. V.R. Bencivenga
Economics 329
PRACTICE HOMEWORK #6B: CONTINUOUS RANDOM VARIABLES
1.
Cities A and C are 60 miles apart by highway. City B is on the highway between A to C, 20 miles
from A. If a car has a breakdown on the highway between A and C, t he l
Dr. V.R. Bencivenga
Economics 329
Fall 2011
MIDTERM #1: RIGHT ANSWERS
1. a. Proportion with 10 or more employees = sum of relative frequencies of top 4 class intervals
Establishments: .379
Firms: .213
b. For establishments, the median is in the 5 to < 10
Dr. V. R. Bencivenga
Economics 329
December 8, 2011
YOU MUST TURN IN THE QUESTIONS (AS WELL AS YOUR ANSWERS) IN ORDER TO
RECEIVE A GRADE ON THIS EXAM. Put your exam (with your name on it) inside your
blue exam book when you submit your exam.
NAME AND EID:
Dr. V.R. Bencivenga
Economics 329
Spring 2011
FINAL EXAM: RIGHT ANSWERS
1.
Observations Xi, i = 1, n are i.i.d. N(, 2)
X
~ N(0,1) because the population is normal
n
C X zu
X zu
1
n
n
Students must give the test statistic, either X or
X
, the sampling dis
Dr. Valerie R. Bencivenga
Economics 329
Spring 2011
April 6, 2011
MIDTERM EXAM #2
Instructions: Answer the questions below in an exam book or on blank paper. The exam consists of eleven
problems and is worth 220 points. This is an open book, open notes ex
Dr. V.R. Bencivenga
Economics 329
Spring 2011
May 12, 2011
FINAL EXAM
Instructions: Answer the questions below in a blue book. Be sure to show your work. For each question,
include the sample statistic, its sampling distribution, and the reason why this s
Dr. Valerie R. Bencivenga
Economics 329
Spring 2012
FINAL EXAM: RIGHT ANSWERS
1.
Normal population, sampling distribution question about the sample mean
Observations Xi = measured HDL level in ith blood sample
X
n=3
X i , i 1,., n i.i.d. N , 2
~Z
7.5
n
Dr. V.R. Bencivenga
Economics 329
Fall 2011
November 2, 2011
MIDTERM EXAM #2
INSTRUCTIONS: Answer the questions below in a blue exam book. The exam has 9 problems totaling 300
points, and is two hours long. This is an open book, open notes exam. You may u
Dr. Valerie R. Bencivenga
Economics 329
Fall 2011
December 8, 2011
FINAL EXAM: RIGHT ANSWERS
1.a.
Observations Xi, i = 1,n are i.i.d. N( , 2 ) with 2 known
X
~ N(0, 1) because the population is normal (obs. are normal random variables)
n
n = 25, and 2 = 1
Case 1
Z
POP VARIANCE
2 known
Normal pop
n small
POP VARIANCE
2 unknown
Case 2
n large
Z, limit of tn-1 as n
POP MEAN
n small
special cases or bootstrapping
Non-normal pop
Bernoulli pop
(non-normal pop)
n large
Z (CLT)
n small
Case 3
SUCCESS PROB p
bino
Dr. V.R. Bencivenga
Economics 329
PRACTICE HOMEWORK #4B: ANSWERS
1.
P(detected by #1 detected by #2)
= P(detected by #1) + P(detected by #2) P(detected by #1
= .85 + .85 .80 = .90
2.a.
B = rented a car for business reasons
C = rented a car for personal re
1
Dr. Valerie R. Bencivenga
Economics 329
PRACTICE HOMEWORK #5A : DISCRETE RANDOM VARIABLES
1.
Each day Alpha Bikeshop sells bicycles according to the following probability distribution:
x
P x(x)
X = daily number of bikes sold
0
1
2
3
4
.1
.3
.3
.2
.1
The
Prof Stephen Donald
EC329
February 20, 2013
You must submit the exam
questions (inside the blue book), in
order to receive credit for this exam
MIDTERM EXAM 1
Instructions: Answer all the questions in a blue book. Number your answers.
Show work to receive
CONTINUOUS RANDOM VARIABLES
Economic Statistics
Economics 329
CONTINUOUS RANDOM VARIABLESPART 2
1
CONTINUOUS RANDOM VARIABLES
NORMAL RANDOM VARIABLE EXTRA EXAMPLES
2
CONTINUOUS RANDOM VARIABLES
Example Urban water consumption
Suppose water consumption per
Economics 442
Spring 2017
University of Wisconsin-Madison
Menzie D. Chinn
Social Sciences 7418
Problem Set 3 Answers
Due in lecture on Wednesday, April 5th. Be sure to put your name on your problem set. Put boxes
around your answers to the algebraic quest
Economics 390
Fall 2013
University of Wisconsin-Madison
Menzie D. Chinn
Social Sciences 7418
Problem Set 1 Answers
Due in lecture on Monday, September 23. Be sure to put your name on your problem set. Put
boxes around your answers to the algebraic questio
Economics 442
Spring 2017
University of Wisconsin-Madison
Menzie D. Chinn
Social Sciences 7418
Problem Set 2 Answers (revd)
Due in lecture on Wednesday, February 22. Be sure to put your name on your problem set. Put
boxes around your answers to the algebr
Economics 442
Spring 2016
University of Wisconsin-Madison
Menzie D. Chinn
Social Sciences 7418
Midterm Exam 2
You have 65 minutes to complete this 60 minute exam. Be sure to box in your answers. Show your
work (so that partial credit can be granted if the
Economics 442
Spring 2017
University of Wisconsin-Madison
Menzie D. Chinn
Social Sciences 7418
Problem Set 1 Answers (revd)
Due in lecture on Wednesday, February 8th. Be sure to put your name on your problem set. Put boxes
around your answers to the algeb