CE_02A: Numerical Descriptive Statistics
1) The XYZ Bank is interested in the number of times that customers use their credit cards in a
given period. A sample of n=20 cardholders was taken and it was found that the number of times
that they used their ca

HE_09C: Simple and Multiple Regression - Solutions
Q1.
Lean Body Mass (LBM) is an index used to measure the fitness of athletes. This index and a
number of physical characteristics were measured on a random sample of 202 Australian
athletes.
Table X.1 sho

HE_09B: Simple and Multiple Regression
Q1.
The marketing manager of a large supermarket chain would like to determine the effect of the
shelf space on the sale of pet food. A random sample of 24 equal-sized stores is selected, with
the following results:

HE_09C: Simple and Multiple Regression
Q1.
Lean Body Mass (LBM) is an index used to measure the fitness of athletes. This index and a
number of physical characteristics were measured on a random sample of 202 Australian
athletes.
Table X.1 shows the regre

HE_04B: Binomial Distribution
1) Phm Thnh Lngs mum likes Ph so much that in the last 30 days she served it 20 times for
breakfast. What is the probability that in the next ten days she will serve it at least 1 time, but at
most 8 times? First write down t

HE_10A: Time Series Forecasting and Index Numbers
(Time Series)
1. Use the following time-series data to answer the given questions:
Time Period
Value
1
272
2
312
3
585
4
638
5
591
6
660
7
717
8
865
9
1013
10
976
MA(3)
MA(5)
MA(5)
a. Smooth the data by us

HE_10A_Solutions: Time Series Forecasting and Index Numbers
(Time Series)
1. Use the following time-series data to answer the given questions:
a) Smooth the data by using the centred moving average of 3 time periods (Give the answer
as whole number)
b) Sm

HE_03A: Basic Probability
1. The probability of a 2 on a fair toss of a fair die is 1/6. This is an example of assigning
probabilities by the _ method.
A.
B.
C.
D.
subjective probability
relative frequency
classical probability
empirical probability
2. Tw

CE_09B: Simple and Multiple Regression
Q1. An agent for a residential real estate company in a large city would like to be able to predict the
monthly rental cost for apartments based on the size of the apartments as defined by squared
meter. A sample of

HE_10A_Solutions: Time Series Forecasting and Index Numbers
(Index Numbers)
1. Using2002asthebaseyear,calculatethepriceindexforallthegivenyearsandinterprettheindex
numberforyear2005.
Year
Price
2000
452.00
2001
482.16
2002
512.65
2003
530.45
2004
515.87
2

HE_09B: Simple and Multiple Regression - Solutions
Q1.
The marketing manager of a large supermarket chain would like to determine the effect of the
shelf space on the sale of pet food. A random sample of 24 equal-sized stores is selected, with
the followi

HE_04A: Discrete Distribution and Counting Rules
1) A dairy farmer estimates for the next year the farms cows will
produce about 25,000 gallons of milk. Because of variation in the
market price of milk and cost of feeding the cows, the profit per gallon
m

HE_03B_Solutions: Basic Probability
1) An analysis of personal loans at Geraldton Rural Bank revealed the following facts: 10% of
all personal loans are in default (D), 90% of all personal loans are not in default (D), 20% of
those in default are homeowne

HE_04A: Discrete Distribution and Counting Rules
1) A dairy farmer estimates for the next year the farms cows will produce about
25,000 gallons of milk. Because of variation in the market price of milk and
cost of feeding the cows, the profit per gallon m

HE_08C_Solutions: Hypothesis Testing
1. The owner of a petrol station wants to study petrol-purchasing habits by motorist at his station. He
selects a random sample of 60 motorist during a certain week with the following results:
Average amount petrol pu

HE_08B_Solutions: Hypothesis Testing
Test the hypothesis for the below two questions:
1. A manufacturer of flashlight batteries suspected that using bad quality materials caused a significant
decrease in the average life-time of the batteries which is cla

HE_05A Solutions Uniform Distribution (Chapter 6)
1. In an apartment building the waiting time for a lift is found to be uniformly
distributed between 0 and 3 minutes. What is the probability of waiting time
a. No more than a minute?
1 1
( 10 ) =
P(X 1) =

HE_09A: Simple and Multiple Regression - Solutions
Q1.
A financial analysis wants to find out if the Australian Stock Index ASX can be estimated using
a linear regression with the prices of the BHP stocks as explanatory variable. A random sample
of 104 pr

HE_05A Solutions Normal Distribution (Chapter 6)
1. For a medical study, a researcher wishes to select people in the middle 60% of the
population based on blood pressure. If the mean systolic blood pressure is 120 and
standard deviation 8, find the upper

CE_09A: Simple Regression
Book Chapter 12: Simple Linear Regression
Sections: 12.1, 12.2, 12.3, 12.4, 12.5, 12.7 (excl. t-test for the Correlation Coefficient) (*)
(*) The F-test for Significance will be discussed more in detail in topic X (Chapter 13)
Q1

CE_09C: Multiple Regression - Solutions
Q1 A regression study about fuel consumption per capita (FuelC) (in 1000s of gal) in different states
in the USA was carried out using Income (1000$), MPC driven per capita per year (Miles) and
Miles (x1000) of Fede

Class 1B Preparation Questions
QUESTION1
List some of the variables that were taken on soldiers for
the sizing data bank.
QUESTION2
What was the overall shape of the distribution of
soldiers foot lengths?
QUESTION3
In this lightning histogram, what does t

Class 1A Preparation Questions
QUESTION1
For a class project, you are asked to determine the
average number of courses taken by RMIT students this
semester. Suppose 150 RMIT students were randomly
selected and asked how many courses they study this
semest

HE_01A Introduction and Data collection (Chapters 1 & 2)
1. A market researcher is interviewing a number of people and asking them several
questions about their gender, income, the area in which they live and the costs of running
their car. Which of the f

CE_01A Introduction and Data collection (Chapters 1 & 2)
1. Claudia Taylor, Director of Global Industrial Sales in Melbourne, is concerned by a
deteriorating sales trend. Specifically, the number of customers is stable at 1500 but they
are purchasing less

HE_02B: Numerical Descriptive Statistics
1) The cost of 14 models of digital cameras at a camera specialty store were as follows:
340
370
450
400
450
310
280
340
220
430
340
270
290
380
a. Calculate the mean, median, mode, first quartile and third quartil

CS_01B Organizing and Presenting Data
Presenting numerical data
1. What are four ways to present numerical data? (Note that ordered array and frequency distributions are NOT)
2. Explain the steps to construct a stem and leaf display. Give an example (use

HE_02A: Numerical Descriptive Statistics
1) A sales manager has sampled past sales records to determine how many televisions are sold
each day. Daily records for a sample of 5 days have been selected. The sales on these days
are: 2, 4, 5, 2, 7. What is th

PRACTICE FINAL EXAM - SOLUTION
SECTION A (25 MULTIPLE CHOICE QUESTIONS 2 MARKS EACH)
1. Perfectly competitive firms respond to changing market conditions by varying their
a. Price
b. Output
c. Advertising campaigns
d. Product quality
2. Firms in perfect c

ECON1194
PRICE AND
MARKET GROUP
ASSIGMENT
Monopolistically competitive market
S3580602 Tran Van Long
S3634970 Lam Yen Nhi
S3634103 Nguyen Tung Lam
S3634239 Nguyen Ha Phuong
S3618888 - Nguyen Hong Anh
Table of Contents
Question 1: [5 marks, Word limit: 400

MONOPOLY
Question 1:
Which of these following industries in Vietnam most closely approximates a monopoly
industry? Explain your answer by presenting the characteristics of the market you have
chosen, such as: number of firms, firm size, product differenti

RMIT University
Perfect competition
ECON1194: PRICE AND MARKETS
Group member :
Nguyen Xuan Phuong s3636652
Phung Minh Hieu s3618855
Nguyen Le Minh Khue s3575394
Pham Duy Dat s3557179
Group Assignment Prices & Markets, Sem 3 - 2016
Page 1
Contents
Question