This website uses cookies to ensure you have the best experience.

# Econ 1000 Essay

1281 words - 6 pages

STAT 2606

Assignment # 3

Fall 2013

Last Name ——————————————- , Student # ———————— Lab section (Important) ———————– Due in class: Tue. Nov. 12

First ———————-

Total mark=100. Marks for each question are given in [ ] Part I. Lab questions. Use only blanks left to answer lab questions. Provide all histograms you are asked to print, but DO NOT print data you are asked to generate. 1. Continuous distributions: Generate and store in column c1 10,000 values from the uniform distribution on the interval [3,7] as follows: random 10000 c1; uniform 3 7. [3] a. Use mean command to ﬁnd the sample mean x of these data———————– ¯ [2] b. What is the mean µ of the uniform distribution on the ...view middle of the document...

What are the mean µ————– and the standard deviation σ————– of the standard normal distribution? 1

3. Standardization procedure: Generate and store in column c4 10,000 values from the normal distribution with µ = 6.5 and σ = 3 as follows: random 10000 c4; normal 6.5 3. a. Print (and include in your assignment) the histogram for these data [1]. What is the value on the horizontal axis around which the histogram seems to be symmetric?x =——[2] Construct and store in column c5 the data set zi (i = 1, . . . , 10, 000) obtained from the previously generated data set xi by the standardization procedure zi = (xi − µ)/σ by typing: let c5=(c4-6.5)/3 b. Print (and include in your assignment) the histogram for the zi s [1]. Around which value does it seem to be symmetric?——[1] What are the sample mean and standard deviation: z and s for this new data set?——————- and ——————–[2] Why are they close ¯ to 0 and 1 (respectively)?—————-[2] 4. Central limit theorem (CLT) at work (You can use a new Minitab worksheet). Generate and store in columns c3-c902 100 samples, of size n = 900 each, from exponential distribution with mean 9 as follows: random 100 c3-c902; exponential 9. Note This may take a few moments as you are generating 900x100=90,000 values Create and store in column c1 the 100 values of x based on the 100 samples of same size ¯ n = 900 as follows: rmean c3-c902 c1 a. Print (and include in your assignment) the histogram of c3 [1]. What can you conclude about the shape of this data set?————–[2] [3] b. Use desc command to ﬁnd sample mean and sample standard deviation of c3——— ———————————————– [3] c. Print (and include in your assignment) the boxplot for the data in column c1. What can you conclude about the shape of the data in c1?————————[3] d. Use desc to ﬁnd sample mean and sample standard deviation of c1——- and ——-. Are they close to 9 and 9/30 (respectively)?———————– Why?———————— ——————————————————————————————————— Part II. Long-answer questions 1. Data collected over a long period of time showed that a particular genetic defect occurs in 1 of every 1000 children. Let X be the random variable “number of children with genetic defect in a sample of 50,000 children examined”. The records of a medical clinic show X = 60 children. [4] a. What is the probability of observing a value of X equal to 60 or more? [2] b. Would you say that the observation of X = 60 children with genetic defect was rather unlikely? 2. Suppose a random sample of n = 36 observations is selected from a population that has normal distribution with mean 106 and standard deviation 12. ¯ [4] a. Give the mean and the standard deviation of the sample mean X. ¯ [4] b....

## Other Papers Like Econ 1000

955 words - 4 pages Borisade Oluwabunmi Course Assignment ECON 3705 Dr. Constantine Passaris April 23, 2014 GEOGRAPHY: * Canada has a higher land area at 9,093,507sq km for land, and 891, 163 sq km for water. * France on the other hand has less land area at 551,500sq km, and water at 3,374sq km * France has more border countries – 8 (Andorra, Belgium, Germany, Italy, Luxembourg, Monaco, Spain, and Switzerland. * Canada has just the U.S

1434 words - 6 pages produce that output” (Econ Model, 2012). The marginal cost of each unit is the difference in ATC per unit. As an easy example: If the first 100 units cost \$1000 and the 101st unit cost an additional \$15, the marginal cost of the 101st unit is \$15. An increase in output will always raise profit as long as marginal revenue is greater than marginal cost. This concept can somewhat be applied to this business because to achieve maximize profit different

### Miss

1879 words - 8 pages best solution for SparkPlace would be to target both “small Sams’” and “medium Marys’” at the same time. Based on the case study, there are both advantages and limitations of these two markets. Medium Marys’ are more valuable and experienced than small Sams’ because they stay longer and are willing to pay higher monthly fees. On the other hand, small Sams’ are easier to bring on board and their cost of sales is less than \$1000 compared to \$5000

### Macro Essay (Priyesh. 448851)

1750 words - 7 pages Name: Priyesh Kasan Student Number: 448851 Course: Economics 1 (ECON 1000) Topic: Essay – Semester 2 (2010) (Final Copy) Essay Topic 2: “During the 2006-2008 period COSATU called for changes to government fiscal policy citing “prospects for a more expansionary fiscal policy” (COSATU Secretariat Report to the Ninth National Congress, Sept 2006) and arguing that “[fiscal policy] is unduly focused on chasing macro-economic targets, such as low

### Economic Impact

1642 words - 7 pages ECON 310 Intermediate Microeconomics Costco; Your Local Friend Lawrence Lam Cal State Fullerton Superstores such as Wal-Mart, Target, and Home Depot have always been frowned upon by local businesses because of the competition it brings. Lower prices forces nearby stores to lower their prices until they shut down because of the negative profits from lowering their prices or because they don't acquire enough revenue to stay in

### Imf’s Role on Asian Crisis

1772 words - 8 pages Trisha LaFleur Econ 375 McNeil 17 November 2014 IMF’s Role on Asian Crisis In July of 1997 Thailand devalued the Baht and thus began the ‘Asian Crisis’ that would soon affect other Southeast Asian countries including the other two that were hit the hardest Indonesia and South Korea. Each country had no choice but to seek help from The International Monetary Fund (IMF). The IMF would have to pull through in aiding these countries out of this

### Econ Solutions

2353 words - 10 pages ECON-112 Principles of Microeconomics Problem Set #8 (Practice Only)-SOLUTIONS Posted: Wednesday, December 4th, 2013 Due Date: None 1. Mankiw (6th edition), Chp17, Problem 6 (page 370) a. The payoffs are: Your Decision Work You get 15 units of happiness Work Classmate gets 15 units of happiness You get 5 units of happiness Shirk Classmate gets 30 units of happiness Shirk You get 30 units of happiness Classmate gets 5 units of happiness

### This Is An Analisis About The Wallmart Case Presented By The Harvard School

4865 words - 20 pages estos no se encuentren satisfechos del todo con la empresa.Limitados a vender productos hechos en los Estados Unidos. Al adoptar estrategias nacionalistas en etapas de globalización e internacionalización, Wal*Mart está dejando de lado oportunidades de negocio con proveedores foráneos de mejor calidad y menores precios.Hechos RelevantesSituación económica de la compañía1993, valor de mercado

### Chpt. 11 Review

1853 words - 8 pages Review of Chapter 11 Econ 101 Sections 1 & 4 This is for you exam preparation. Answers are on the last two pages. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) In a perfectly competitive market that is in long-run equilibrium, a permanent leftward shift in the market demand curve will cause A) firms to leave the industry in the long run. B) profits to fall in the short run

### Applecasestudy

5063 words - 21 pages Ashcroft Dr John Ashcroft PhD, Bsc(Econ) CBIM FRSA, is Chief Executive or pro.manchester, a director of Marketing Manchester and a visiting professor at Manchester Metropolitan University Business School, specialising in Economics and Corporate Strategy. Educated at the London School of Economics, London Business School with a PhD in macro economics from Manchester Metropolitan University. Contents 1 Company Background 2 Distribution and

3805 words - 16 pages The Origins of Managerial Thought Pre-Industrial Revolution Influences 1000 BC perceptive officials in China were writing about how to manage and control organized human activity Egyptians and Romans implemented management systems as well late Middle Ages (15th and 16th centuries) Venice and Florence were managing with ‘modern’ procedures Industrial Revolution in England beginning of the end of the domestic production system= steam engine

## Related Essays

### Econ 1000 Homework Essay

838 words - 4 pages Economics provides a range of choices to decision makers regarding the outcomes or impacts of alternative courses of action. Describe the two types of economic analysis (see table on page 3). Come up with three questions of your own as examples for each type of analysis, which relates to your community. a. The two types are positive and normative analysis. Positive analysis predicts the consequences of alternative action by asking “What is

### Trents Bba Planning Essay

644 words - 3 pages Business Administration office to arrange a meeting with a faculty advisor to discuss the impact of the change. Generally you graduate under the rules in place when you enter or re-enter the BBA program. You have entered the BBA program when you declare your major on MyTrent. You should retain a copy of the declaration for your records. Level 1000 Courses Normally Offered Completed, In Progress, Plan to take in (term): Required FA WI ADMN

### Micro Economics Essay

616 words - 3 pages Utility Curve and draw the Total and Marginal Utility curves for both products (d) Determine the equilibrium consumption of Legumes and Rice after the price change in Legumes. (e) Derive the demand curve for Legumes. Tutorial Sheet #1 ECON 1001, Semester I, 2014/2015 -1- Table 1 Units Legumes (\$100.00) Consumed TU 0 1 2 3 4 5 6 7 MU 0 1200 1000 900 800 600 300 200 MU/P New Price of Legumes (50.00) MU/P* Rice (\$50.00) TU 0 500 900 1250

### Economics Base Essay

1904 words - 8 pages Econ 200 Principles of Macroeconomics - Homework #2 (Total: 20 Points + 5 Extra Credit Points) Please complete on separate sheets of paper. Due March 11, 2014. ■ I. REVIEW QUESTIONS 1. (5 points) Tony is an attorney at a law firm, and his girlfriend Ursula is a landscaper/gardener. They met while Ursula was providing her landscaping services to Tony. Thanks to her, Tony has a wonderful garden, filled with beautiful blooming flowers year