ECON 2201 SUMMER 2013
Statistical Methods in Economics and Business I
FINAL HAND IN ASSIGNMENT
Due: by end of class Tuesday June 18, 2013
NO LATE ASSIGNMENTS ARE ACCEPTED.
READ ALL INSTRUCTIONS BEFORE BEGINNING!
1. Show all your work and formulae.
2. Work
ECON 2201 Statistical Methods in Economics and Business I
PRACTICE ASSIGNMENT TOPIC 6
SHORT-ANSWER QUESTIONS
1. What is the area under the curve of a normal distribution equal to? 1
2. In working with the normal distribution using the raw values of x, the
ECON 2201 Statistical Methods in Economics and Business I
PRACTICE ASSIGNMENT TOPIC 6
SHORT-ANSWER QUESTIONS
1. What is the area under the curve of a normal distribution equal to?
2. In working with the normal distribution using the raw values of x, the m
ECON 2201 Statistical Methods in Economics and Business I
PRACTICE ASSIGNMENT TOPIC 6
SHORT-ANSWER QUESTIONS
1. What is the area under the curve of a normal distribution equal to? 1
2. In working with the normal distribution using the raw values of x, the
ADDITIONAL TYPE II ERROR EXAMPLES
A bank has implemented a new customer service plan that should reduce the waiting
time of its customers to less than the historic 6 minute average. A random sample of
100 customers yields a sample mean of 5.46. The popula
Carleton University
Department of Economics
ECON 2201 G
Statistical Methods in Economics and Business I
2015 WINTER
Instructor: Valerie Rochester
Classes: Tuesdays & Thursdays, 1:05 2:25 PM
Tutorials: Tuesdays, 2:35 3:55 PM
Office: B-840 Loeb
Phone: 613-5
ECON 2201 B
WINTER 2015
Statistical Methods in Economics and Business I
FINAL HAND IN ASSIGNMENT
Due: by 2:30, Tuesday April 7, 2015 I will be in my office from 10:00 2:30
NO LATE ASSIGNMENTS ARE ACCEPTED.
READ ALL INSTRUCTIONS BEFORE BEGINNING
1. Show al
Topic 2
Numerical data measures
(Textbook chapter 3)
1
Important characteristics for describing a
data series CVDOT
Centre describes observed centre
Variation describes extent of observed
variation around centre
Distribution describes observed shape of
Topic 4
Probability
1
Concepts and Definitions
2
Probability
The chance that an uncertain event will occur.
(Always a value between 0 and 1 though we
frequently express it as a percentage in
context.)
3
Important Definitions
Experiment
A process that resu
Topic 8
Introduction to Sampling Distributions,
estimation, and hypothesis testing of single
population proportions, and Type II error
1
Sampling distribution of the Proportion
Proportions
Involve categorical measures counted items
Two possible outcomes
Topic 7
Inferential Statistics
Introduction to Sampling Distributions,
estimation, and hypothesis testing of
single population means
Sampling Error and the Sampling Distribution of the Mean
Sampling Error
Sample Statistics are used to ESTIMATE Population
Course Outline
I: Descriptive statistics
Topic 1: The Where, Why, and How of Data Collection
Topic 2: Describing Data Using Numerical Measures
Topic 3: Graphs, Charts, and Tables - Describing Your Data
II: Probability and Important Theoretical Probability
Topic 3
Describing the data using
tables and charts
(Textbook Chapter 2)
1
Reminder: data types
Discrete Data
Discrete data are data that take on a countable
number of possible values.
Continuous Data
Continuous data are usually measures and so
result in
ECON 2201 G
WINTER 2015
Statistical Methods in Economics and Business I
TEST 1B
This test is worth a total of 90 marks with marks per question as indicated.
Make certain that you give the formula where appropriate. Full marks are only
given when the formu
ECON 2201 G
WINTER 2015
Statistical Methods in Economics and Business I
TEST 1A
This test is worth a total of 90 marks with marks per question as indicated.
Make certain that you give the formula where appropriate. Full marks are
only given when the formu
ECON 2201 Statistical Methods in Economics and Business I
PRACTICE ASSIGNMENT TOPIC 8
SHORT-ANSWER QUESTIONS
1. A researcher wants to estimate the proportion of the population which possesses a given
characteristic. A random sample of size 800 is taken re
Topic 8
Introduction to Sampling Distributions,
estimation, and hypothesis testing of single
population proportions, and Type II error
1
Sampling distribution of the Proportion
Proportions
Involve categorical measures counted items
Two possible outcomes
Topic 7
Inferential Statistics
Introduction to Sampling Distributions,
estimation, and hypothesis testing of
single population means
Sampling Error and the Sampling Distribution of the Mean
Sampling Error
Sample Statistics are used to ESTIMATE Population
2201 FINAL EXAM REVIEW SUMMARY AND REMINDERS
TOPIC 1
Sample vs population notation: Greek vs Roman
TOPIC 2
Formula and symbols especially for population and sample mean, variance, and standard deviation
Meaning of percentiles
Empirical rule
Standardized s
2201 TEST 1 REVIEW (W13)
1. You are given the following data.
1
4
6
7
8
2
4
6
7
9
2
5
6
7
10
2
5
6
7
3
5
6
7
4
5
6
7
4
5
6
8
4
6
6
8
a. Create a frequency table for the data and include cumulative and relative frequencies. Do NOT
group the data and round
ECON 2201 B
FALL 2014
Statistical Methods in Economics and Business I
TEST 2A
This test is worth a total of 100 marks with marks per question as indicated.
Make certain that you give the formula where appropriate. Full marks are only
given when the formul
ECON 2201 B
FALL 2014
Statistical Methods in Economics and Business I
TEST 2B
This test is worth a total of 100 marks with marks per question as indicated.
Make certain that you give the formula where appropriate. Full marks are only
given when the formul
ECON 2201 B
FALL 2014
Statistical Methods in Economics and Business I
TEST 2A
This test is worth a total of 100 marks with marks per question as indicated. Make
certain that you give the formula where appropriate. Full marks are only given when
the formul
ECON 2201 B
FALL 2014
Statistical Methods in Economics and Business I
TEST 2B
This test is worth a total of 100 marks with marks per question as indicated. Make
certain that you give the formula where appropriate. Full marks are only given when
the formul
TOPIC 7 AND 8 EXTRA REVIEW QUESTIONS
1. The average diameter of a certain kind of hand blown glass marble is known to be normally
distributed with a mean of 1 centimetre and a standard deviation of 0.1 centimetres. A random sample
of 12 marbles is taken.
2201 Topics 7 and 8
Extra Questions
1
1. The average diameter of a certain kind of hand blown
glass marble is known to be normally distributed with a
mean of 1 centimetre and a standard deviation of 0.1
centimetres. A random sample of 12 marbles is taken.
Topic 5
Discrete Probability Distributions
1
Introduction to Probability Distributions
2
Random Variables
Random Variable
A random variable x takes on different numerical values based on the outcome
of a chance event or random experiment.
Discrete Random
Topic 6
Continuous Probability Functions
1
Continuous Probability Functions
The probability density function for the continuous
random variable must satisfy certain conditions:
The function is nowhere negative, f(x)0 for all possible
x.
The probability,
Topic 7
Inferential Statistics
Introduction to Sampling Distributions,
estimation, and hypothesis testing of
single population means
Sampling Error and the
Sampling Distribution of the
Mean
Sampling Error
Sample Statistics are used to ESTIMATE Population
Koshin Hujaleh
10062893
December 2, 2015
Multiple choice:
1) A
2)C
3)B
4)A
5)A
6)D
7)B
8)A
9)B
10)C
11)C
12)D
13)B
14)C
15)A
16)C
17)D
18)A
19)D
20) A
Short Answers:
Long answer:
3.1 & 3.2 together:
With the same costs, the pure monopolist will charge a h
ECON 2201: Statistical Methods in Economics and Business I
Lecture 5: Describing Data Using Numerical Measures (II) (Chapter 3)
Measures of Variation and Shape
1
Introduction
In the last lecture, we focused on the measures of the central location of data.
ECON 2201: Statistical Methods in Economics and Business I
Lecture 2: The Where, Why, and How of Data Collection (Chapter 1)
In the last lecture, we defined business statistics. That is:
Business statistics is a collection of procedures and techniques tha
1. (15 marks) For each of the following, indicate whether the data are quantitative or qualitative. Also indicate the level of data measurement.
(a) (3 marks) Sales regions. For example, Ottawa, Toronto
(b) (3 marks) Prices of some goods
(c) (3 marks) Qua
ECON 2201: Statistical Methods in Economics and Business I
Lecture 1
Welcome to ECON 2201: Statistical Methods in Economics and Business I.
We have two things to do in this lecture: one is to talk about the course outline; the
other is to give you a big p