DOC PREVIEW
WCU ECO 252 - ECO 252 First Hour Exam

This preview shows page 1-2-3 out of 9 pages.

Save
View full document
View full document
Premium Document
Do you want full access? Go Premium and unlock all 9 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 9 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 9 pages.
Access to all documents
Download any document
Ad free experience
Premium Document
Do you want full access? Go Premium and unlock all 9 pages.
Access to all documents
Download any document
Ad free experience

Unformatted text preview:

252x0711 1/20/07 (Open in ‘Print Layout’ format) ECO252 QBA2 Name ________________ FIRST HOUR EXAM February 23, 2007 Version 1Show your work! Make Diagrams! Exam is normed on 50 points. Answers without reasons are not usually acceptable.I. (8 points) Do all the following. 7,2~ Nx1. 24.23  xP 2. 77  xP3. 0xP4. 085.x(Do not try to use the t table to get this.)252x0711 1/20/07 (Open in ‘Print Layout’ format)II. (9 points-2 point penalty for not trying part a.) Edwin Mansfield tells us that in order to compute information about the average expenditure by honors students at Semiconscious State University, a sample of four students’ expenditures is taken. The results are as below. I should not have to tell you that parts b, c, and f require hypothesis tests. x 192150168 90a. Compute the sample standard deviation,s, of expenditures. Show your work! (2)b. Is the population mean significantly above 130? (Use a 90% confidence level)? Show your work! (3)c. Redo b) when you find out that there are only 10 honors students at Semiconscious State University. (2)d. (Extra Credit) Find an approximate p value for your null hypothesis. (2)e. Assume that the population standard deviation is 40 and create an 83% two-sided confidence interval for the mean. (2) [17]f. (Extra Credit) Given the data, test the hypothesis that the population standard deviation is above 40?252x0711 1/20/07 (Open in ‘Print Layout’ format)III. Do as many of the following problems as you can.(2 points each unless marked otherwise adding to 13+ points). Show your work except in multiple choice questions. (Actually – it doesn’t hurt there either.) If the answer is ‘None of the above,’ put in the correct answer.1.Which of the following is a Type 1 error?a) Rejecting the null hypothesis when the null hypothesis is false.b) Rejecting the null hypothesis when the null hypothesis is true.c) Not rejecting the null hypothesis when the null hypothesis is true.d) Not rejecting the null hypothesis when the null hypothesis is false.e) All of the abovef) None of the above.2. In a survey, 540 out of 1000 respondents indicated that they would rather have $150 than a day off. You believe that a majority (over 50%) will prefer the money to the day off. Do the data support your opinion? Your hypotheses are:a) 50.:0pH, 50.:0pHb) 50.:0pH, 50.:0pHc) 50.:0pH, 50.:0pHd) 50.:0pH, 50.:0pHe) 50.:0pH, 50.:0pHf) None of the above.3. The chi-squared distribution is used in which of the following circumstances.a) We are testing a single mean, the underlying distribution is Normal and the population variance is unknown.b) We are testing a single variance, the underlying distribution is Normal and the population variance is unknown.c) We are testing a single proportion, the underlying distribution Binomial and we have a large sample.d) We are testing a single median, the underlying distribution is Normal and the population variance is unknown.e) None of the above. [6]252x0711 1/20/07 (Open in ‘Print Layout’ format)4. According to Dummeldinger, The Florida Association of Retired Teachers (FART) is thinking of changing its name. It takes a survey of 60 members and finds that many wish to change the name. Assuming that the alternative hypothesis is 6.:1pH and that 01., how many people (what proportion of 60) would be required to reject the null hypothesis? (Show your work.) (3) [9]5. According to Dummeldinger, The Florida Association of Retired Teachers (FART) is thinking of changing its name. It takes a survey of 60 members and finds that 45 wish to change the name. Assuming that the alternative hypothesis is 6.p, what is the p-value for the null hypothesis? (3) [12]6. Given the numbers in problem 5) create a 95% two sided confidence interval for the proportion that favors a change. (3) [15]252x0711 1/20/07 (Open in ‘Print Layout’ format)7. Assuming that about 60% of the old FART members favor a name change, how many members would we have to poll to know what the proportion is within 01..? (2)[17]8. While we are playing with old folks in Florida, assume that a Florida town has had a median age of 55. Because they are afraid that the median age is now higher the planning board takes a sample of 200 people. How many of the 200 people would have to be over 55 for the planning board to conclude that the median has risen? (3) [20]252x0711 1/20/07 (Open in ‘Print Layout’ format)Blank page for calculations.252x0711 1/20/07 (Open in ‘Print Layout’ format) ECO252 QBA2 FIRST EXAMFebruary 23, 2007TAKE HOME SECTION- Name: _________________________ Student Number and class: _________________________ IV. Do at least 3 problems (at least 7 each) (or do sections adding to at least 20 points - Anything extra youdo helps, and grades wrap around) . Show your work! State 0H and 1H where appropriate. You have not done a hypothesis test unless you have stated your hypotheses, run the numbers and stated your conclusion.. (Use a 95% confidence level unless another level is specified.) Answers without reasons usually are not acceptable. Neatness and clarity of explanation are expected. This must be turned in when you take the in-class exam. Note that answers without reasons and citation of appropriate statistical tests receive no credit. Many answers require a statistical test, that is, stating or implying a hypothesis and showing why it is true or false by citing a table value or a p-value. If you haven’tdone it lately, take a fast look at ECO 252 - Things That You Should Never Do on a Statistics Exam (or Anywhere Else). All problems are based on Anderson, Sweeny and Williams except 4f and 4g.1. The average sales of a grocery store have been $80000 per day. After new advertising policies are adopted, sales in thousands of dollars are tabulated for 64 days. Test to see if the average sales arenow above 80000.x 69.07 81.67 72.69 72.73 82.26 83.59 87.44 94.47 109.29 88.30 75.33 86.89 83.34 80.67 83.41 96.50 84.73 86.43 103.18 90.65 63.91 65.65 93.22 71.65 75.51 81.79 64.20 86.96 83.54 91.22 91.05 91.50 78.99 68.74 92.14 68.47 72.60 81.44 82.13 76.37 72.72 91.19 87.70 85.43 78.85 82.75 91.84 95.71 76.23 83.13 78.09 85.03 66.50 91.43 97.30


View Full Document

WCU ECO 252 - ECO 252 First Hour Exam

Documents in this Course
Load more
Download ECO 252 First Hour Exam
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view ECO 252 First Hour Exam and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view ECO 252 First Hour Exam 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?