Econ 2843 Exam 2 review Brent Norwood Questions With Correct Answers.

Econ 2843 Exam 2 review Brent
Norwood Questions With Correct
Answers

what is z score - CORRECT ANSWER✔✔-how much a value differs from
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the standard deviation
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Z score formula - CORRECT ANSWER✔✔-(x-u)/
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(ô/√n)


What is a continuous random variable - CORRECT ANSWER✔✔-a
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variable that cannot be counted, but is found from measuring (ex:
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height, weight, temperature)
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has a probability density function
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what is the probability that a continuous random variable assumes a
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value - CORRECT ANSWER✔✔-0
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what is a discrete random variable - CORRECT ANSWER✔✔-a countable
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number of values (ex: number of girls in class)
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has a probability mass function
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, confidence interval excel code to find probability - CORRECT
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ANSWER✔✔-< = NORM.DIST | |




> = 1-NORM>DIST
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confidence interval excel code to find x to reach a given probability -
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CORRECT ANSWER✔✔-< = NORM.INV| | |




> = 1-NORM.INV
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if lambda=4 what is the expected value - CORRECT ANSWER✔✔-1/4 -
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>.25


Standard Deviation Formula - CORRECT ANSWER✔✔-= (√(b-a)^2/12)
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If given 2 end data points 40 and 300 what is the expected mean and
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standard deviation - CORRECT ANSWER✔✔-mean= 170
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St dev= 75.1
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What is the probability that any random number is more or less than
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the mean - CORRECT ANSWER✔✔-50%
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empirical rule - CORRECT ANSWER✔✔-1 standard deviation away from
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the mean is 67%
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