# ECO 578 Online Exam II Fall 2015

November 24, 2016

Name: _______________

ID: _______________

v There are 4 parts:

Part A: Select the correct answer for the following questions (1-10)

Part B: True/ False (11-20)

Part C: Answer the following questions (21-29)

Part D: Fill in the blank (30-40)

Part E: Work Problem (41-53) **All work must be shown step by step**

1. Scan your answer sheet and place it in ONE FILEat drop-box. (preferable)

Use MS-Word and place it in a drop-box.
v **Excel is not acceptable for this test

v **Deadline:Monday, October 26, 2014 by noon (CST)

v **All work in part D must be shown step by step in order to receive credit

Online Exam II

Part A: Multiple Choice (1–10)

____1. The cumulative probability distribution of a random variable X gives the probability that X is _______ to , some spacified value of X.

a. Greater than or equal c. Less than or equal

b. Equal d. None of the above

_____2. The_______is the smallest level of significance at which can be rejected.

a. Value of c. p value

b. Probability of commiting of Type I error d. vale of 1 –

_____3. What is the probability of P(-1.4 < Z 220. The critical value of the test statistic is ______________ .

a. 2.0639 b. 1.7081

c. 1.7109 d. 1.96

_____8.You perform a hypothesis test about a population mean on the basis of the following information: n = 50, = 100, ? = 0.05, s = 30, Ha: µ 4)

42. Work problem number 5 on page 6-14 (a-e).

a)

b)

c)

d)

e)

43. Work problem number 9 on page 6-28 (a-f).

a)

b)

c)

d)

e)

f)

44. Use problem number 4 on page 6-22 to fill in the table and answer the following questions (a-c).

X

P[X=x]

(X)(P[X=x])

[X-E(X)]

[X-E(X)]2

[X-E(X)]2 P[X=x]

0

1

2

3

4

5

6

Total

a) Expected value

b) Variance

c) Standard deviation

45. Work problem number 5 on page 7-23 (a-f).(**Please draw the graph)

a.

b.

c.

d.

e.

f.

46. Work problem number 9 on page 7-47 (a-f). (** Please draw the graph)

a.

a)

b.

c.

d.

e.

f.

47. Find the following probabilities:(**Please draw the graph)

a.

P(-1.4 < Z -1.44)

c.

P(Z 1.67)

e.

P(Z < 2.84)

f.

P(1.14 < Z < 2.43)

48. Find the Z scores for the following normal distribution problems.(** Please draw the graph)

a.

µ = 604,? = 56.8, P(X ? 635)

b.

µ = 48,?2 = 144, P(X< 20)

c.

µ = 111,? = 33.8, P(100?X? 150)

d.

µ = 264,?2 = 118.81, P(250<X 35)

f.

µ = 156,? = 11.4, P(X ? 170)

49. Work problem on number 11 (a – f) on page 7-47 (a-f). (** Please draw the graph)

a.

b.

c.

d.

e.

f.

50. Work problem on number 3 on page 8-10.

51. Work problem on number 12 on page 8-11.

52. Consider the following hypothesis test

Ho: µ ? 10

Ha: µ < 10

A sample of 50 provides a sample mean of 9.46 and sample variation of 4.

a) Use Z or T test? And why?

b) At ? = 0.05, what is the rejection rule?

c) Compute the value of the test statistic.

d) What is the p-value?

53. Consider the following data drawn from a normal distribution population:

4

8

12

11

14

6

12

8

9

5

Construct 95% confidence interval using the above information and answer the following questions.

a) What is sample mean

b) What is sample standard deviation

c) Use Z or T test? And why?

d) At At 95% confidence interval, what is the rejection rule?

e) Compute the value of the test statistic.

f) What is associated with this question?

g) Interpret the confidence interval

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