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Set of flashcards Details
| Flashcards | 44 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 05.11.2017 / 05.11.2017 |
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Which of the following characterizes a continuous random variable for which all outcomes between some minimum and maximum value are equally likely?
Any normally distributed values can be standardized with z-scores.
A shipment of grapefruit arrived containing the following proportions of types: 10% pink seedless, 20% white seedless, 30% pink with seeds, and 40% white with seeds.
A grapefruit is selected at random from the shipment. Find the probability of these events:
➢ It is seedless.
➢ It is white.
➢ It is pink and seedless.
➢ It is pink or seedless.
➢ It is pink, given that it is seedless.
➢ It is seedless, given that it is pink
P(sl) = 0.3
P(w) = 0.6
P(pnsl) = 0.1
P(pusl) = 0.6
P(p|sl) = 0.33
P(sl|p) = 0.25
• Box 1 contains two red balls and three green balls, and Box 2 contains four red balls and one green ball.
• One ball is randomly selected from Box 1 and placed in Box 2.
• Then one ball is randomly selected from Box 2. ➢ What is the probability that the ball selected from Box 2 is green?
0.267
• Professor French forgets to set his alarm with a probability of 0.3.
• If he sets the alarm, it rings with a probability of 0.8.
• If the alarm rings, it wakes him on time to make his first class with a probability of 0.9.
• If the alarm does not ring, he wakes in time for his first class with a probability of 0.2.
➢ What is the probability that Professor French will wake in time to make his first class tomorrow?
0.592
Does a high correlation imply there is a causality between two variables?
Which does not describe correlation accurately?
Which statement is true?
What is the error(=residual)?
Y = 40
Yhat= 20
Which one best describes the equation above?
Cost = 25.2 - 4.4 Capacity
Predict the price for a house with 2000 square feet.
house price (1000$) = 98.24833 + '.10977square feet
Regression can explain all the variations in data?
Given for a SST, which model do you prefer in regression modelling?
If you calculate SSR / SST, would it fairly explain how much a model can explain the data?
Which describes correlation and r2 the best?
Which one is a graph showing the number of observations in each class of a frequency distribution?
Which one is a graph showing the relationship between a pair of variables?
Toss a coin once. You will get one million and one pounds if you get a head, or you will lose one million pounds if you get a tail.
Calculate E(x)
Which of the following best describes the variance?
Which of the following best describes the following in the order of (a), (b) and (c) and the skewness?
Which one has higher kurtosis?
Guess the correlation of the following?
Non-linear relation
Which one describes the correlation correctly?
Which one is the valid interpretation?
p=0.71
Is the correlation the same as the slope?
The area under the curve of any probability distribution is always equal to 1.
Roll a coin. You will get one pound if you get face. Otherwise, you will lose one pound. What type of variable is the payoff?
The table below shows the number of televisions per household (X) from UK survey data. Is the number of televisions a discrete variable?
The probability distribution of today’s temperature
The total rainfall of the last year in the UK
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