Econometric Final Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
Quiz 1 - Correct answers✔✔Quiz 1
A MHC Economics instructor is interested in the mean number of days that MHC economics
students are absent from their classes during a module. What is the population of interest?
a) all economics students
b) all MHC students
c) all college students
d) economics students in her class - Correct answers✔✔a)
x represents the number of days that the average economics student is absent from class. X is an
example of ...
a) a statistic
b) a population
c) data
e) a variable - Correct answers✔✔e)
After drawing a random sample of MHC economics students, the instructor calculates a mean of
2.25 days absent per module. This value is an example of ...
a) data
b) parameter
c) statistic
d) variable - Correct answers✔✔c)
,The standard deviation measure how widely dispersed the values of the observations are
true/false - Correct answers✔✔true
The mean of X from that distribution is ...
a) 3.75
b) 2.10
c) 1.65
d) 4.00 - Correct answers✔✔a)
sum of values times their probabilities
The z-values such that the area bounded by them is equal to the middle 90 percent of the
standard normal distribution is ...
a) +-1.645
b)+-1.960
c)+-1.67
d)+-2.00 - Correct answers✔✔c)
In a normal distribution the mean, median, and mode are the same
true/false - Correct answers✔✔true
Cumulative probability distribution shows the probability:
a) that a random variable takes on a particular value given that another event has happened
b) of all possible events occurring
c)that a random variable is less than or equal to a particular value
d)of two or more events occurring at once - Correct answers✔✔c)
, The expected value of a discrete random variable:
a) can be found by determining the 50% value in the c.d.f.
b) is the outcome that is most likely to occur
c) equals the population median
d)is computed as a weighted average of the possible outcome that random variable where the
weights are the probabilities of that outcome - Correct answers✔✔d)
Which of the following does not represent a probability distribution
a) X 3 5 7 , P(x) .4 .3 .3
b) -2 -1 0, .6 .3 .1
c) 0 1 2, .2 .6.3
d).25 .5 .75, .2 .3 .5 - Correct answers✔✔c)
probability distributions do not add up to one
What is the probability of two sixes when two fair dice are rolled
a) 1/12
b)1/6
c)1/3
d)1/36 - Correct answers✔✔d)
What is the probability of rolling at least one 6 when two fair dice are rolled?
a) 1/3
b)11/36
c)1/36
QUESTIONS AND CORRECT ANSWERS
Quiz 1 - Correct answers✔✔Quiz 1
A MHC Economics instructor is interested in the mean number of days that MHC economics
students are absent from their classes during a module. What is the population of interest?
a) all economics students
b) all MHC students
c) all college students
d) economics students in her class - Correct answers✔✔a)
x represents the number of days that the average economics student is absent from class. X is an
example of ...
a) a statistic
b) a population
c) data
e) a variable - Correct answers✔✔e)
After drawing a random sample of MHC economics students, the instructor calculates a mean of
2.25 days absent per module. This value is an example of ...
a) data
b) parameter
c) statistic
d) variable - Correct answers✔✔c)
,The standard deviation measure how widely dispersed the values of the observations are
true/false - Correct answers✔✔true
The mean of X from that distribution is ...
a) 3.75
b) 2.10
c) 1.65
d) 4.00 - Correct answers✔✔a)
sum of values times their probabilities
The z-values such that the area bounded by them is equal to the middle 90 percent of the
standard normal distribution is ...
a) +-1.645
b)+-1.960
c)+-1.67
d)+-2.00 - Correct answers✔✔c)
In a normal distribution the mean, median, and mode are the same
true/false - Correct answers✔✔true
Cumulative probability distribution shows the probability:
a) that a random variable takes on a particular value given that another event has happened
b) of all possible events occurring
c)that a random variable is less than or equal to a particular value
d)of two or more events occurring at once - Correct answers✔✔c)
, The expected value of a discrete random variable:
a) can be found by determining the 50% value in the c.d.f.
b) is the outcome that is most likely to occur
c) equals the population median
d)is computed as a weighted average of the possible outcome that random variable where the
weights are the probabilities of that outcome - Correct answers✔✔d)
Which of the following does not represent a probability distribution
a) X 3 5 7 , P(x) .4 .3 .3
b) -2 -1 0, .6 .3 .1
c) 0 1 2, .2 .6.3
d).25 .5 .75, .2 .3 .5 - Correct answers✔✔c)
probability distributions do not add up to one
What is the probability of two sixes when two fair dice are rolled
a) 1/12
b)1/6
c)1/3
d)1/36 - Correct answers✔✔d)
What is the probability of rolling at least one 6 when two fair dice are rolled?
a) 1/3
b)11/36
c)1/36
