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Kean University Applied Economics Questions

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Econ 390 Midterm 1 Late submissions are not accepted. Mistakes in submissions are not accepted RULE: you can collaborate similar to assignments; one person submits on behalf of the team. ONLY one submission per group. but if you collaborate (EVEN IN 1 QUESTION) and do not inform me your score is 0. ” “# ” “# Q1. (15/100) Show that ∑”# !$%#”𝑎𝑍! + 3𝑦! + 𝑑) = 𝑎 ∑!$%# 𝑍! + 3 ∑!$%# 𝑦! + 11𝑑 . Q2. (15/100) If 𝑦~𝑁 (4,16) then find 𝑝(𝑦 ≥ 1.5). Q3. (10/100) You take the Econometrics exam and score 100. The mean score for the test is 95 and the standard deviation is 5. If we assume the distribution of Econometrics score is normal, how well did you score on the test other test takers? (calculate your z-score first and find what percent of the test takers scored below you) Q4. It is believed that the average US households’ spending on food is 40 dollars per day. Suppose you recently take a random i.i.d. sample of 81 households in the US and the result revealed a mean of 38 dollars per day with the standard deviation of 3 dollars. a. (15/100) Can it be concluded that the average dollars spent per day by U.S. households has changed? (please provide 2 approached both the “T-test (Zscore)” and “P-value” approach. (You should write down the null, alternative, formulas, and provide your p-value on the z graph.) b. (10/100) Create the 95 % Confidence Interval for the population mean using the information above? (Do not forget the complete formula of the interval) Q5. Open the data “TeachingRatings” and read the description, both are attached to this midterm exam: a. b. c. d. e. f. g. (5/100) What is “Course_eval” variable. (5/100) How many variables and how many observations does this data include? (5/100) What is “Beauty” variable? What is the unit of this variable? (5/100) Provide a histogram for age. Please change the bin width, and do not rely on the default histogram and bins. The bin width must be chosen to be informative. After creating the plot, add data labels, and report what is the range of age in the first bin you created, and how many observations will fall in your first bin. (5/100) Provide a scatterplot in which Course_eval is the dependent variable and Beauty is the independent variable. (5/100) Do you see any linear association in the previous plot? (5/100) Find the correlation value, what does this number mean? Econ 390 Midterm 1 Late submissions are not accepted. Mistakes in submissions are not accepted RULE: you can collaborate similar to assignments; one person submits on behalf of the team. ONLY one submission per group. but if you collaborate (EVEN IN 1 QUESTION) and do not inform me your score is 0. minority age 1 
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