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89 . Applying the law of large numbers, which sample mean would expect to be closer to the population mean, a sample of size ten or a sample of size 100?

Use this information for the next three questions. A manufacturer makes screws with a mean diameter of 0.15 cm (centimeters) and a range of 0.10 cm to 0.20 cm; within that range, the distribution is uniform.

90 . If X = the diameter of one screw, what is the distribution of X ?

91 . Suppose you repeatedly draw samples of size 100 and calculate their mean. Applying the central limit theorem, what is the distribution of these sample means?

92 . Suppose you repeatedly draw samples of 60 and calculate their sum. Applying the central limit theorem, what is the distribution of these sample sums?

Practice test 2 solutions

Probability distribution function (pdf) for a discrete random variable

1 . The domain of X = {English, Mathematics,….], i.e., a list of all the majors offered at the university, plus “undeclared.”

2 . The domain of Y = {0, 1, 2, …}, i.e., the integers from 0 to the upper limit of classes allowed by the university.

3 . The domain of Z = any amount of money from 0 upwards.

4 . Because they can take any value within their domain, and their value for any particular case is not known until the survey is completed.

5 . No, because the domain of Z includes only positive numbers (you can’t spend a negative amount of money). Possibly the value –7 is a data entry error, or a special code to indicated that the student did not answer the question.

6 . The probabilities must sum to 1.0, and the probabilities of each event must be between 0 and 1, inclusive.

7 . Let X = the number of books checked out by a patron.

8 . P ( x >2) = 0.10 + 0.05 = 0.15

9 . P ( x ≥ 0) = 1 – 0.20 = 0.80

10 . P ( x ≤ 3) = 1 – 0.05 = 0.95

11 . The probabilities would sum to 1.10, and the total probability in a distribution must always equal 1.0.

12 . x ¯ = 0(0.20) + 1(0.45) + 2(0.20) + 3(0.10) + 4(0.05) = 1.35

Mean or expected value and standard deviation

13 .

x P ( x ) x P ( x )
30 0.33 9.90
40 0.33 13.20
60 0.33 19.80

14 . x ¯ = 9.90 + 13.20 + 19.80 = 42.90

15 . P ( x = 30) = 0.33
P ( x = 40) = 0.33
P ( x = 60) = 0.33

16 .

x P ( x ) xP ( x ) ( x μ ) 2 P ( x )
30 0.33 9.90 (30 – 42.90) 2 (0.33) = 54.91
40 0.33 13.20 (40 – 42.90) 2 (0.33) = 2.78
60 0.33 19.90 (60 – 42.90) 2 (0.33) = 96.49

17 . σ x = 54.91 + 2.78 + 96.49 = 12.42

Binomial distribution

18 . q = 1 – 0.65 = 0.35

19 .

  1. There are a fixed number of trials.
  2. There are only two possible outcomes, and they add up to 1.
  3. The trials are independent and conducted under identical conditions.

20 . No, because there are not a fixed number of trials

21 . X ~ B (100, 0.65)

22 . μ = np = 100(0.65) = 65

23 . σ x = n p q = 100 ( 0.65 ) ( 0.35 ) = 4.77

24 . X = Joe gets a hit in one at-bat (in one occasion of his coming to bat)

25 . X ~ B (20, 0.4)

26 . μ = np = 20(0.4) = 8

27 . σ x = n p q = 20 ( 0.40 ) ( 0.60 ) = 2.19

4.4: geometric distribution

28 .

  1. A series of Bernoulli trials are conducted until one is a success, and then the experiment stops.
  2. At least one trial is conducted, but there is no upper limit to the number of trials.
  3. The probability of success or failure is the same for each trial.

29 . T T T T H

30 . The domain of X = {1, 2, 3, 4, 5, ….n}. Because you are drawing with replacement, there is no upper bound to the number of draws that may be necessary.

Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
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Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
Mercy Reply
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money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
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Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
Kalombe
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Kalombe
hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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