ECO578 FALL 2015 midterm exam latest 2015 winters
Question # 00106468
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Updated on: 09/24/2015 07:20 PM Due on: 10/24/2015
ECO 578 FALL 2015
Page 1 of 14
Name: ____________________
ID: ____________________
Online Midterm Exam I
Midterm Exam
There are 4 parts:
Part A: Select the correct answer for the following questions (1-16)
Part B: True/ False (17-30)
Part C: Answer the following questions (31-39)
Part D: Work Problem (40-50) **All work must be shown step by step**
Two different ways to submit your answer sheet
1. Scan your answer sheet and place it in ONE FILE at drop-box. (preferable)
2. Use MS-Word and place it in a drop-box.
**Excel is not acceptable for this test
**Deadline: Monday, 21st of September 2015 BY NOON (CST)
**All work in part D must be shown step by step in order to receivecredit
Part A: Multiple Choice (1–16)
Using the following information to answer questions 1-8:
2
_____1.
a) 1.90
_____2.
a) 1.00
_____3.
a) 0
_____4.
a) 1
_____5.
a) 1.66
1
3
0
1
2
0
5
1
4
What is the mean?
b) 2.11
c) 1.73
d) 1.66
c) 1.60
d) 1.90
c) 2
d) 3
c) 5
d) 3
c) 1.76
d) 3.11
What is the median?
b) 1.50
What is the mode?
b) 1
What is the range?
b) 4
What is the variance?
b) 2.77
ECO 578 FALL 2015
_____6.
What is the standard deviation?
a) 1.66
_____7.
b) 2.77
c) 1.76
d) 3.11
c) 2
d) 3
c) 2
d) 2.5
What is the 1st quartile?
a) 0
_____8.
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b) 1
What is the 70th percentile?
a) 1
b) 1.5
Questions 9-16 refer to the following frequency distribution:
The following information represents the number of tons of grain stored at the 60 grain
elevators of central Soya, Inc.
Class
160-164
165-169
170-174
175-179
180-184
Frequency
6
14
16
13
11
Total
_____9.
60
What is the relative frequency for the class 170-174?
a) 16
b) 36
c) 0.27
d) 0.60
c) 172.75
d) 167
c) 172.63
d) 173.13
_____10. What is the mean?
a) 170.25 b) 12
_____11. What is the median?
a) 169.5
b) 170
_____12. What is the mode?
a) 16
b) 170
c) 172
d) 174
c) 151.55
d) 149.02
c) 12.31
d) 12.21
c) 167.57
d) 167.71
c) 176.81
d) 177.31
_____13. What is the variance?
a) 39.68
b) 12.33
_____14. What is the standard deviation?
a) 6.30
b) 3.51
_____15. What is the 1st quartile?
a) 168.21
b) 167.07
_____16. What is the 70th percentile?
a) 176.35
b) 176.85
ECO 578 FALL 2015
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Part B: True or False (17-30)
_____17. The random sample is the most important, because statistical theory applies to it
alone.
_____18. In a frequency distribution, the class mark is the number of observations that fall
within that class.
_____19. Original class interval frequencies can be obtained by multiplying the respective
relative frequencies by the total number of observations.
_____20. The sum of the class frequencies is equal to the number of observations made.
_____21. A relative frequency distribution describes the proportion of data values that fall
within each category.
_____22. There would be no need for statistical theory if census, rather than a sample was
always used to obtain information about populations.
_____23. The arithmetic mean is the sum of the data values divided by the number of
observations.
_____24.
(
) is ( | )
( )
_____25. The median always exists in a set of numerical data.
_____26.
(
)
means that A and B are mutually exclusive events.
_____27. Mutually exclusive events imply that if one event occurs, the other cannot occur.
An event (e.g., ?) and its complement are always mutually exclusive.
_____28.
( )
( ?)
_____29. Events are independent when the occurrence of one event has no effect on the
probability that another will occur.
_____30. The P(x) is always 0 ? P(x) ? 1.
Part C: Answer the following questions (31-39)
31. Name 3 types of statistical samples
1
3
2
ECO 578 FALL 2015
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32. Name reasons why we use samples instead of an entire population
33. Name types of random samples.
34. Name the measure of central tendency.
35. Name measures of spread or variability.
36. Show that you understand the difference between a sampling error and a sampling bias.
37. Name 4 parts of the regression.
38. When do we use the regression?
39. Explain the concept of error and uncertainty as it relates to decision making.
ECO 578 FALL 2015
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Part D: Must show all your work step by step in order to receive the full
credit; Excel is not allowed. (40-50)
40. Train A and Train B are two transportations that people can use to transport from
Boston to New York. Sample of times recorded in minutes for each train are shown
below.
Train A 28 29 32 37 33 25 29 32 41 34
Train B 29 31 33 32 34 30 31 32 35 33
Please answer the following questions (a-i).
Train A
Train B
a) Mean
b) Mean
c) Median
d) Median
e) Variance
f) Variance
g) Standard deviation
h) Standard deviation
i) From above computed results from Train A and Train B, what train should be preferred and why?
ECO 578 FALL 2015
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41. Use the information from the problem number 5 on page 3-21 to fill in the given table
below and answer the following questions (a-h) (**Using D-method).
Number of miles flown
Number of frequent
MidPoint
CF
d
fd
d2
Flyers (f)
(x)
(1,000)
-1
0
1
2
3
4
Total
a) Find mean
b) Find median
c) Find mode
d) Find Range
fd2
ECO 578 FALL 2015
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e) Find variance
f) Find standard deviation
g) Find 1st Quartile
h) Find 99th percentile
42. Use the information from the problem number 1 on page 3-39 to fill in the given table
below and answer the following questions (a-h) (**Using D-method).
Dinner Check
($)
Frequency
(f)
CF
MidPoint
(x)
d
-2
-1
0
1
2
3
Total
fd
d2
fd2
ECO 578 FALL 2015
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a) Find mean
b) Find median
c) Find mode
d) Find Range
e) Find variance
f) Find standard deviation
g) Find 3rd Quartile
h) Find 80th percentile
ECO 578 FALL 2015
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43. The mean GMAT score of 65 applicants who were accepted into the MBA program of
Xavier Business School was 520 with variance of 225. About how many applicants
scored between 470 and 570 on the GMAT?
44. Work on problem number 11 on page 3-49 (a-b).
a)
b)
ECO 578 FALL 2015
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45. Use the information from the problem number 2 on page 4-8 and answer the
following questions (a-h); Given that Y = Income rate and X = Average expense
a) Find
b) Find
c) Interpret the meaning of
d) Find the regression equation
e) Predict the income rate for an area with an average f) Compute the coefficient of determination
expense of $75
g) Interpret the coefficient of determination
h) Compute and interpret the coefficient of correlation
ECO 578 FALL 2015
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46. An educator wants to see how strong the relationship is between a student’s score on
a test and his or her grade-point average. The data obtained from the sample are
shown.
Test Score (X)
GPA (Y)
98
2.1
105
2.4
100
3.2
100
2.7
106
2.2
95
2.3
a) Find
112
3.4
b) Find
c) Interpret the meaning of
116
3.8
d) Find the regression equation
e) Predict the GPA for a student who gets 145 in the f) Compute the coefficient of determination
test score.
g) Interpret the coefficient of determination
h) Compute and interpret the coefficient of correlation
ECO 578 FALL 2015
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47. Please use the given printout and answer the following questions.
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.190885429
R Square
0.036437247
Adjusted R Square
-0.44534413
Standard Error
2.502630195
Observations
4
ANOVA
Regression
Residual
Total
df
1
2
3
SS
MS
F
0.473684211 0.47368421 0.0756303
12.52631579 6.26315789
13
Significance F
0.809114571
Intercept
X Variable
Coefficients
2.894736842
-0.315789474
t Stat
P-value
1.904216054 1.52017248 0.2678372
1.148285486 -0.2750095 0.8091146
Lower 95%
-5.298443561
-5.256463153
Standard Error
a) What is
b) What is
c) Interpret the meaning of
d) What is the regression equation
e) What is the coefficient of determination
f) What is the coefficient of correlation
g) Interpret the coefficient of determination
h) Interpret the coefficient of correlation
Upper 95%
11.08792
4.624884
ECO 578 FALL 2015
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48. From the below cross classification showing the frequencies of hair and eye color of a
group of students at North Texas, and answer the following questions (a-d).
Hair Color Blond
Blond
Brown
Red/Auburn
Black
Total
Brown
30
74
17
43
164
Blue
18
28
15
11
72
Eye Color
Green
7
10
5
6
28
Hazel
2
7
3
1
13
Total
57
119
40
61
277
a) Probability that a student will have blue eyes given
he/she is blond.
b) Probability of black hair.
c) Probability that a student will have either red hair or
green eyes.
d) Probability that a student will have brown hair and
brown eyes.
49. Work on problem number 33 on page 5-19 (a-d)
a)
b)
c)
d)
ECO 578 FALL 2015
a)
c)
e)
Page 14 of 14
50. Work on problem number 17 on page 5-16 (a-e)
b)
d)
Page 1 of 14
Name: ____________________
ID: ____________________
Online Midterm Exam I
Midterm Exam
There are 4 parts:
Part A: Select the correct answer for the following questions (1-16)
Part B: True/ False (17-30)
Part C: Answer the following questions (31-39)
Part D: Work Problem (40-50) **All work must be shown step by step**
Two different ways to submit your answer sheet
1. Scan your answer sheet and place it in ONE FILE at drop-box. (preferable)
2. Use MS-Word and place it in a drop-box.
**Excel is not acceptable for this test
**Deadline: Monday, 21st of September 2015 BY NOON (CST)
**All work in part D must be shown step by step in order to receive
Part A: Multiple Choice (1–16)
Using the following information to answer questions 1-8:
2
_____1.
a) 1.90
_____2.
a) 1.00
_____3.
a) 0
_____4.
a) 1
_____5.
a) 1.66
1
3
0
1
2
0
5
1
4
What is the mean?
b) 2.11
c) 1.73
d) 1.66
c) 1.60
d) 1.90
c) 2
d) 3
c) 5
d) 3
c) 1.76
d) 3.11
What is the median?
b) 1.50
What is the mode?
b) 1
What is the range?
b) 4
What is the variance?
b) 2.77
ECO 578 FALL 2015
_____6.
What is the standard deviation?
a) 1.66
_____7.
b) 2.77
c) 1.76
d) 3.11
c) 2
d) 3
c) 2
d) 2.5
What is the 1st quartile?
a) 0
_____8.
Page 2 of 14
b) 1
What is the 70th percentile?
a) 1
b) 1.5
Questions 9-16 refer to the following frequency distribution:
The following information represents the number of tons of grain stored at the 60 grain
elevators of central Soya, Inc.
Class
160-164
165-169
170-174
175-179
180-184
Frequency
6
14
16
13
11
Total
_____9.
60
What is the relative frequency for the class 170-174?
a) 16
b) 36
c) 0.27
d) 0.60
c) 172.75
d) 167
c) 172.63
d) 173.13
_____10. What is the mean?
a) 170.25 b) 12
_____11. What is the median?
a) 169.5
b) 170
_____12. What is the mode?
a) 16
b) 170
c) 172
d) 174
c) 151.55
d) 149.02
c) 12.31
d) 12.21
c) 167.57
d) 167.71
c) 176.81
d) 177.31
_____13. What is the variance?
a) 39.68
b) 12.33
_____14. What is the standard deviation?
a) 6.30
b) 3.51
_____15. What is the 1st quartile?
a) 168.21
b) 167.07
_____16. What is the 70th percentile?
a) 176.35
b) 176.85
ECO 578 FALL 2015
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Part B: True or False (17-30)
_____17. The random sample is the most important, because statistical theory applies to it
alone.
_____18. In a frequency distribution, the class mark is the number of observations that fall
within that class.
_____19. Original class interval frequencies can be obtained by multiplying the respective
relative frequencies by the total number of observations.
_____20. The sum of the class frequencies is equal to the number of observations made.
_____21. A relative frequency distribution describes the proportion of data values that fall
within each category.
_____22. There would be no need for statistical theory if census, rather than a sample was
always used to obtain information about populations.
_____23. The arithmetic mean is the sum of the data values divided by the number of
observations.
_____24.
(
) is ( | )
( )
_____25. The median always exists in a set of numerical data.
_____26.
(
)
means that A and B are mutually exclusive events.
_____27. Mutually exclusive events imply that if one event occurs, the other cannot occur.
An event (e.g., ?) and its complement are always mutually exclusive.
_____28.
( )
( ?)
_____29. Events are independent when the occurrence of one event has no effect on the
probability that another will occur.
_____30. The P(x) is always 0 ? P(x) ? 1.
Part C: Answer the following questions (31-39)
31. Name 3 types of statistical samples
1
3
2
ECO 578 FALL 2015
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32. Name reasons why we use samples instead of an entire population
33. Name types of random samples.
34. Name the measure of central tendency.
35. Name measures of spread or variability.
36. Show that you understand the difference between a sampling error and a sampling bias.
37. Name 4 parts of the regression.
38. When do we use the regression?
39. Explain the concept of error and uncertainty as it relates to decision making.
ECO 578 FALL 2015
Page 5 of 14
Part D: Must show all your work step by step in order to receive the full
credit; Excel is not allowed. (40-50)
40. Train A and Train B are two transportations that people can use to transport from
Boston to New York. Sample of times recorded in minutes for each train are shown
below.
Train A 28 29 32 37 33 25 29 32 41 34
Train B 29 31 33 32 34 30 31 32 35 33
Please answer the following questions (a-i).
Train A
Train B
a) Mean
b) Mean
c) Median
d) Median
e) Variance
f) Variance
g) Standard deviation
h) Standard deviation
i) From above computed results from Train A and Train B, what train should be preferred and why?
ECO 578 FALL 2015
Page 6 of 14
41. Use the information from the problem number 5 on page 3-21 to fill in the given table
below and answer the following questions (a-h) (**Using D-method).
Number of miles flown
Number of frequent
MidPoint
CF
d
fd
d2
Flyers (f)
(x)
(1,000)
-1
0
1
2
3
4
Total
a) Find mean
b) Find median
c) Find mode
d) Find Range
fd2
ECO 578 FALL 2015
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e) Find variance
f) Find standard deviation
g) Find 1st Quartile
h) Find 99th percentile
42. Use the information from the problem number 1 on page 3-39 to fill in the given table
below and answer the following questions (a-h) (**Using D-method).
Dinner Check
($)
Frequency
(f)
CF
MidPoint
(x)
d
-2
-1
0
1
2
3
Total
fd
d2
fd2
ECO 578 FALL 2015
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a) Find mean
b) Find median
c) Find mode
d) Find Range
e) Find variance
f) Find standard deviation
g) Find 3rd Quartile
h) Find 80th percentile
ECO 578 FALL 2015
Page 9 of 14
43. The mean GMAT score of 65 applicants who were accepted into the MBA program of
Xavier Business School was 520 with variance of 225. About how many applicants
scored between 470 and 570 on the GMAT?
44. Work on problem number 11 on page 3-49 (a-b).
a)
b)
ECO 578 FALL 2015
Page 10 of 14
45. Use the information from the problem number 2 on page 4-8 and answer the
following questions (a-h); Given that Y = Income rate and X = Average expense
a) Find
b) Find
c) Interpret the meaning of
d) Find the regression equation
e) Predict the income rate for an area with an average f) Compute the coefficient of determination
expense of $75
g) Interpret the coefficient of determination
h) Compute and interpret the coefficient of correlation
ECO 578 FALL 2015
Page 11 of 14
46. An educator wants to see how strong the relationship is between a student’s score on
a test and his or her grade-point average. The data obtained from the sample are
shown.
Test Score (X)
GPA (Y)
98
2.1
105
2.4
100
3.2
100
2.7
106
2.2
95
2.3
a) Find
112
3.4
b) Find
c) Interpret the meaning of
116
3.8
d) Find the regression equation
e) Predict the GPA for a student who gets 145 in the f) Compute the coefficient of determination
test score.
g) Interpret the coefficient of determination
h) Compute and interpret the coefficient of correlation
ECO 578 FALL 2015
Page 12 of 14
47. Please use the given printout and answer the following questions.
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.190885429
R Square
0.036437247
Adjusted R Square
-0.44534413
Standard Error
2.502630195
Observations
4
ANOVA
Regression
Residual
Total
df
1
2
3
SS
MS
F
0.473684211 0.47368421 0.0756303
12.52631579 6.26315789
13
Significance F
0.809114571
Intercept
X Variable
Coefficients
2.894736842
-0.315789474
t Stat
P-value
1.904216054 1.52017248 0.2678372
1.148285486 -0.2750095 0.8091146
Lower 95%
-5.298443561
-5.256463153
Standard Error
a) What is
b) What is
c) Interpret the meaning of
d) What is the regression equation
e) What is the coefficient of determination
f) What is the coefficient of correlation
g) Interpret the coefficient of determination
h) Interpret the coefficient of correlation
Upper 95%
11.08792
4.624884
ECO 578 FALL 2015
Page 13 of 14
48. From the below cross classification showing the frequencies of hair and eye color of a
group of students at North Texas, and answer the following questions (a-d).
Hair Color Blond
Blond
Brown
Red/Auburn
Black
Total
Brown
30
74
17
43
164
Blue
18
28
15
11
72
Eye Color
Green
7
10
5
6
28
Hazel
2
7
3
1
13
Total
57
119
40
61
277
a) Probability that a student will have blue eyes given
he/she is blond.
b) Probability of black hair.
c) Probability that a student will have either red hair or
green eyes.
d) Probability that a student will have brown hair and
brown eyes.
49. Work on problem number 33 on page 5-19 (a-d)
a)
b)
c)
d)
ECO 578 FALL 2015
a)
c)
e)
Page 14 of 14
50. Work on problem number 17 on page 5-16 (a-e)
b)
d)
-
Rating:
/5
Solution: Scan your answer sheet and place it in ONE FILE