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    ECN 652 - Assignment - 2

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    chamila2345
    This document outlines the questions and tasks for Quantitative Methods Assignment 2. It includes 5 sections assessing skills in [1] probability calculations with normal distributions, [2] confidence intervals and sampling, [3] correlation and regression analysis, and [4] significance testing. Students must complete computational problems, interpret results, and draw conclusions from hypothetical economic and statistical data relating to topics like chest sizes, engine power, marijuana use, apartment rents, and women's labor participation. The assignment is due January 5th, 2019 and will be graded out of 20 total marks.

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    ECN 652 - Assignment - 2

    Uploaded by

    chamila2345
    179 views2 pages
    This document outlines the questions and tasks for Quantitative Methods Assignment 2. It includes 5 sections assessing skills in [1] probability calculations with normal distributions, [2] confidence intervals and sampling, [3] correlation and regression analysis, and [4] significance testing. Students must complete computational problems, interpret results, and draw conclusions from hypothetical economic and statistical data relating to topics like chest sizes, engine power, marijuana use, apartment rents, and women's labor participation. The assignment is due January 5th, 2019 and will be graded out of 20 total marks.

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    Basic statistics

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    ECN 652_Assignment_2

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    This document outlines the questions and tasks for Quantitative Methods Assignment 2. It includes 5 sections assessing skills in [1] probability calculations with normal distributions, [2] confidence intervals and sampling, [3] correlation and regression analysis, and [4] significance testing. Students must complete computational problems, interpret results, and draw conclusions from hypothetical economic and statistical data relating to topics like chest sizes, engine power, marijuana use, apartment rents, and women's labor participation. The assignment is due January 5th, 2019 and will be graded out of 20 total marks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    179 views2 pages

    ECN 652 - Assignment - 2

    Uploaded by

    chamila2345
    This document outlines the questions and tasks for Quantitative Methods Assignment 2. It includes 5 sections assessing skills in [1] probability calculations with normal distributions, [2] confidence intervals and sampling, [3] correlation and regression analysis, and [4] significance testing. Students must complete computational problems, interpret results, and draw conclusions from hypothetical economic and statistical data relating to topics like chest sizes, engine power, marijuana use, apartment rents, and women's labor participation. The assignment is due January 5th, 2019 and will be graded out of 20 total marks.

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    © All Rights Reserved
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    of 2

    ECN 652: Quantitative Method

    Assignment 2- 2019/20

    Marks Allocated: 20 Marks

    1. i. Compare and Contrast the Normal Distribution and the Standard Normal Distribution
    II. Suppose the chest sizes of 19th century Sri Lankan Militiamen are normally distributed
    with a mean of 39.83 inches and a standard deviation of 2.05 inches.
    a. What percentage of the militiamen had a chest size less than 36 inches? In this
    context, the percentage is the corresponding probability expressed as a percent.
    b. What percentage of the militiamen had a chest size between 40 and 44 inches?
    c. What percentage of militiamen had a chest size of 37 inches or greater?

    2. The engines made by Ford for speedboats had an average power of 220 horsepower (HP)
    and standard deviation of 15 HP.
    i A potential buyer intends to take a sample of four engines and will not place an order if
    the sample mean is less than 215 HP. What is the probability that the buyer will not place
    an order?
    ii If the customer samples 100 engines, what is the probability that the sample mean will
    be less than 215?
    3. Suppose the proportion of all college students who have used marijuana in the past 6
    months is p = .40. For a class of size N = 200, representative of all college students on use of
    marijuana, what is the chance that the proportion of students who have used marijuana in
    the past 6 months is less than .32 (or 32%)?
    NOTE: This would imply that 32% of the sample students said "yes" to having used
    marijuana, or 64 of the 200 said "yes". This means the sample proportion ̂ is 64/200 or
    32%

    4. You want to rent an unfurnished one bedroom apartment in Durham, NC next year. The
    mean monthly rent for a random sample of 60 apartments advertised on Craig’s List (a
    website that lists apartments for rent) is $1000. Assume a population standard deviation of
    $200.
    i. Construct a 95% confidence interval.
    ii. To what population of apartments can you appropriately infer from your sample in
    above question?

    Dr. T. Vinayagathasan, Dept. of Econ. & Statistics, Univ. of Peradeniya Page 1


    5. Consider the hypothetical data of Women labor force participation rate (WLFP) and
    education level of women (EDU) of 50 household in a village of Sri Lanka (see the excel
    sheet).
    Answer the following questions using the given data.
    1. Draw the scatter plot for this data
    2. Compute cov(WLFP, EDU) of this data
    3. Estimate the correlation coefficient and comment on the result
    4. Define the population regression model of this data
    5. Manually compute the intercept and slope of this regression model.
    6. Write down the estimated equation of this regression model
    7. Estimate the standard error of the regression
    8. Find the and Adjusted ̅ of this regression model and comment on
    9. Calculate the F-statistics of this model
    10. Test the overall significant of the model

    Closing date 5th January, 2019


    Late submission will result to reduce 1 mark for each day

    Dr. T. Vinayagathasan, Dept. of Econ. & Statistics, Univ. of Peradeniya Page 2

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