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HW1

This document contains the homework assignment for a course on economics. The homework contains 11 problems related to statistical concepts like the normal distribution, sampling distributions, the central limit theorem, and Chebyshev's theorem. The problems involve calculating probabilities, distributions of variables, limits of integrals, and applying theoretical results to real-world examples like vending machines and spark plug lifetimes.

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Ahmet Gülveren
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188 views2 pages

HW1

This document contains the homework assignment for a course on economics. The homework contains 11 problems related to statistical concepts like the normal distribution, sampling distributions, the central limit theorem, and Chebyshev's theorem. The problems involve calculating probabilities, distributions of variables, limits of integrals, and applying theoretical results to real-world examples like vending machines and spark plug lifetimes.

Uploaded by

Ahmet Gülveren
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Middle East Technical University

Faculty of Economics and Administrative Sciences


Department of Economics
Econ 206 Spring 2015-2016

HOMEWORK 1
(Due Date March 14, 2016, 12:30)
1) Let X1,,Xn be a random sample from N(,2). Find E(s2), V(s2).
2) Suppose that Xi ~ N(,2) i=1,...,n and Zi ~ N(0,1) i=1,...,k and all variables are
independent. State the distribution of each of the following variables.
a) X1+2X3-X2
b)

Z1
Z2

c) k Z 2
n

d)

(k 1) ( X i X ) 2
i 1

(n 1) 2 ( Z i Z ) 2
i 1

3) Let X1,..,Xn be a random sample from N(0,1). Define

Xk

1 k
1
= X i and X n k =
k i 1
nk

i k 1

Find the sampling distribution of


a) ( X k X n k ) /2
b) k X k 2+(n-k) X

nk

c) X12/ X22
4) When a production process is operating correctly, the resistance in ohms of
components produced has a normal distribution with standard deviation 3.6. A
random sample of four components was taken. What is the probability that the
sample variance is bigger than 30?
5) It has been found that times taken by people to complete a particular tax form
follow a normal distribution with mean 100 minutes and standard deviation 30
minutes. A random sample of nine people who have completed this tax form was
taken.
a) What is the probability that sample mean time taken is more than two hours?
b) The probability is 0.20 that the sample mean time taken is less than how many
minutes?
c) The probability is 0.05 that the sample standard deviation of time taken is less
than how many minutes?

6) Briefly state the central limit theorem.


7) Use the central limit theorem to calculate
n

lim(1/ 2(n 1)!) x n 1e x dx


n

8) A random sample of size n = 100 is taken from an infinite population with the
mean = 75 and the variance 2 = 256.
a) Based on Chebyshevs theorem, with what probability can we assert that
the value we obtain for X will fall between 67 and 83?
b) Based on the Central Limit Theorem, with what probability can we assert
that the value we obtain for X will fall between 67 and 83?
9) A random sample of size n = 81 is taken from an infinite population with the
mean = 128 and the standard deviation = 6.3. With what probability can we
assert that the value we obtain for X will not fall between 126.6 and 129.4 if we
use:
a) Chebyshevs theorem;
b) The central limit theorem?
10) A soft-drink vending machine is set so that the amount of drink dispensed is
a random variable with a mean of 200 milliliters and a standard deviation of 15
milliliters. What is the probability that the average (mean) amount dispensed in a
random sample of size 36 is at least 204 milliliters?
11) A manufacturer claims that the life of its spark plugs is normally distributed
with mean 36000 miles and standard deviation 4000 miles. For a random sample
of sixteen of these plugs, the average life was found to be 34500 miles. If the
manufacturers claim is correct, what would be the probability of finding a sample
mean this small or smaller?

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