ECON10005 Quantitative Methods 1 Assignment 2 Question 2
Question 2
(a)
The central limit theorem proposes that given the population is normally distributed,
the sampling distribution is also normally distributed despite the size of sample. The
random sam
ECON10005 Quantitative Methods 1
Tutorial 7
Pre-Tutorial Tasks
Part A.
1. (a) This is the definition of variance. For any random variable X the variance is
var(X) = E (X E(X)2 ). In this case the definition is applied to Xi with the
mean E(Xi ) denoted as
Tutorial 2
ECON10005 Quantitative Methods 1
Pre-Tutorial Tasks
Part A.
1. A screenshot of the results in the Excel spreadsheet is shown here:
Part B
1. Screenshot of the required statistics:
1
Tutorial 2
ECON10005 Quantitative Methods 1
2. The tabulation
ECON10005 Quantitative Methods 1
Tutorial 8
Pre-Tutorial Tasks
Part A.
1. The null hypothesis of H0 : = 100 implies m = 100 in the notation used in the
lectures. The t-statistic is
t=
m
X
106 100
=
= 1.714
s/ n
35/ 100
The critical value for the upper t
ECON10005 Quantitative Methods 1
Tutorial 6
Pre-Tutorial Tasks
Part A.
1. (a) This applies the definition of E(X) for a discrete random variable
X
E(X) =
x P (X = x)
x
where in this case the possible values for X to sum over are simply 0 and 1.
Thus
E(X)
ECON10005 Quantitative Methods 1
Lecture 6
Evaluating Gambles
1
Random Variables
Definition
A random variable is a rule/function that assigns a
numerical value to each outcome of a random experiment.
Discrete random variable: has a finite or countably inf
Tutorial 3
ECON10005 Quantitative Methods 1
Pre-Tutorial Tasks
Part B
1. (SSK, 6.57) By all of the joint probabilities the question means the four probabilities
P (A B), P (A B).
P (A B), P (A B),
Applying the definition of conditional probability (in th
ECON10005 Quantitative Methods 1
Tutorial 5
Pre-Tutorial Tasks
Part A.
1. If we redefine H from the notes as now being the height of a randomly selected person
from Sri Lanka, the provided information about average male and female heights can
be expressed
Tutorial 1
ECON10005 Quantitative Methods 1
Tutorial Preparation
Part A.
1. The clustered column chart is as follows
2. A screenshot of the Excel spreadsheet to calculate these changes is shown here:
1
Tutorial 1
ECON10005 Quantitative Methods 1
3. The re
ECON10005 Quantitative Methods 1
Lecture 18
More examples of inference on
1
Comparing wages City vs Country
A simple random sample of 500 employed people was obtained and
their annual wages recorded ($).
Also whether they live in an urban area : Urbani =
ECON10005 Quantitative Methods 1
Lecture 14
Hypothesis testing for a mean
1
Upper tail test for a mean - the story so far.
We have a simple random sample X1 , , Xn from a population
with mean = E(Xi ).
is an estimator of .
The sample mean X
Hypotheses: H
ECON10005 Quantitative Methods 1
Lecture 8
Conditional Expectations
1
The story so far.
You could invest in shares of the firm of a
super-rich computer nerd.
. or in the hedge fund of a fictional
character with a punny name.
. or some of each!
2
The story
When you perform a hypothesis test in statistics, a p-value helps you determine the
significance of your results. Hypothesis tests are used to test the validity of a claim that
is made about a population. This claim thats on trial, in essence, is called
ECON10005 Quantitative Methods 1
Lecture 2
How difficult is QM1?
"What is the average mark?"
1
Mean
Definition
Let x1 , x2 , , xn denote n observations.
The sample mean x
is
n
x1 + x2 + + xn
1
x
=
= xi
n
n i=1
Excel
AVERAGE
2
In semester 1 2016 there wer
ECON10005 Quantitative Methods 1
Lecture 3
Describing Relationships in Data
1
Nominal Data
(Categorial / Qualitative)
Data that is not naturally numerical. Examples:
Gender (Male, Female, .)
Marital status (Single, Married, Divorced, Widowed)
Mode of tran
ECON10005 Quantitative Methods 1
Lecture 17
Comparing two means
1
Statistical inference to compare two populations
Often we want to compare means across two populations
Is a new product better than an old product?
Do people living in cities have higher
ECON10005 Quantitative Methods 1
Lecture 19
From Means to Linear Regression
1
City vs Country Wages revisited
We have a simple random sample of n = 500 people from the
Australian population.
Define random variables:
Wagei = annual wage in $
1 if individua
Perdisco for Quantitative Methods (STAM4000) in Trimester 1 (T1 2016)
Online resources from Perdisco will be used to help support student learning for STAM4000 in Trimester 1
(T1). Perdisco has practice exercises and homework exercises, which have been de
ECON10005 Quantitative Methods 1
Pre-Tutorial Tasks 3
(20-24 March 2017)
Complete the following and answer Tutorial Quiz 2 on the LMS before your tutorial.
Part A.
(Excel instructions here)
1. Use Excel to choose a student's mark at random from those in t
ECON10005 Quantitative Methods 1
Pre-Tutorial Tasks 2
(13-17 March 2017)
Complete the following and answer Tutorial Quiz 2 on the LMS before your tutorial.
Part A.
(Excel assistance here if required)
1. Obtain the file fb.xlsx, which contains the daily re
ECON10005 Quantitative Methods 1
Pre-Tutorial Tasks 4
(27-31 March 2017)
Complete the following and answer Tutorial Quiz 4 on the LMS.
Part A.
(Excel instructions here)
1. Use Excel to simulate a craps game in which you begin with $200
and repeatedly bet
Quantitative Methods 1
Practice Exam Questions
Total of 40 Marks Available
Question 1: (6 Marks)
Define, compare and contrast the following objects. Illustrate your points
using an example of your choice:
1. Parameter
2. Estimator
3. Estimate
Question 2: