Explain central limit theorem in context of current problem

Assignment Help Econometrics
Reference no: EM131227618

1. It is known that the population of students who take EconS 311 have a final grade that is normally distributed with µx = 81 and sx2 = 25.

a. For one observation (student) from this population, find Pr (X < 80).

Now suppose that a random sample of students is selected from this population. Note that the next two questions are about X‾, not about X itself.

b. In a random sample of size n = 64, find Pr (X < 80).

c. In a random sample of size n = 36, find Pr (78< X < 84).

d. Explain the central limit theorem in the context of the current problem, and indicate whether it was needed to find these probabilities in a, b, and c (might differ for each of a, b, and c).

 

 

Reference no: EM131227618

Questions Cloud

Develop teaching plan for prevention of accident and injury : Develop a teaching plan for prevention of accidents and injuries in either children or the elderly. - Include the main elements of your presentation to a group of parents or elderly or their caregivers.
Describes critically analyzes and evaluates the quality : Prepare an 8 -12-page paper that describes, critically analyzes, and evaluates the quality, meaning, and significance of the book. The paper should not be a book report or a summary, but rather a reaction paper in which strengths and weaknesses of..
Information on organizations and teams : Choose an organization that you work for, or one with which you are familiar. Using the information on organizations and teams in Olson's Project Management as a starting point, describe the following for the organization you have chosen:
Why does the budget require a forecast of the economy : Why does the budget require a forecast of the economy? Under what circumstances would actual government spending and tax revenue fail to match the budget as approved?
Explain central limit theorem in context of current problem : Explain the central limit theorem in the context of the current problem, and indicate whether it was needed to find these probabilities in a, b, and c (might differ for each of a, b, and c).
Describe a situation in which this might reasonably happen : Explain why TIME_WAIT is a somewhat more serious problem if t server initiates the close than if the client does. Describe a situation in which this might reasonably happen. (150 Word Minimum).
Why robert barro argues that if parents are concerned : (Case Study: An Intergenerational View of Deficits and Debt) Explain why Robert Barro argues that if parents are concerned about the future welfare of their children, the effects of deficit spending on the economy will be neutralized.
Find certain governors general of australia : Find certain Governors General of Australia. Find all Governors General of Australia who were Barons at the time of their appointment. List them by Title and name and date that they were appointed to the position. Order the list by ascending date o..
The cyclical nature of government tax revenues : Given the cyclical nature of government tax revenues and spending, how would the resulting budget deficit or surplus vary over the business cycle?

Reviews

Write a Review

Econometrics Questions & Answers

  Explain what is the corporate bond rate

Consider the following four debt securities, which are identical in every characteristic except as noted: W: A corporate bond rated AAA X: A corporate bond rate BBB Y: A corporate bond rated AAA with a shorter time to maturity than bonds W and X Z..

  Irreversibility of investment in the ramsey model

How does the transition path differ depending on whether capital isreversible (convertible back into consumables on a one-to-one basis) or irreversible?

  Compute amount of net income or loss that rolls royce report

The income statement of Rolls Royce Group Plc., a U.K. automotive manufacturer, for the year ended December 31, 2007, reported revenues of £7,435 and cost of sales of £6,003. In addition, it reported other operating expenses of £918, a loss of £2 ..

  What is highest price that a vendor would pay for a permit

Consider a city that has a number of hot dog stands operating throughout the downtown area. Suppose that each vendor has a marginal cost of $1.50 per hot dog sold and no fixed cost. Suppose the maximum number of hot dogs that any one vendor can se..

  List the choices for the optimal consumption bundles

Suppose that you have highly non convex preferences for ice cream and olives, like those given in the text, and that you face prices p1, p2 and have m dollars to spend. List the choices for the optimal consumption bundles.

  What are sa government providing and to whom

WHAT ARE COSTS CONSEQUENCES OF PROVIDING THE SUBSIDIES AND WELFARE/

  Should sex offender registration laws be changed

Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length.

  What has happened to the volatility of interest rates

What has happened to the volatility of interest rates since 1982? Does your answer change if your measure of the interest rate is the ten-year government bond rate?

  Draw a rough sketch of the flows of imports and exports

Draw a rough sketch of the flows of imports, exports, and the payments for each on your diagram.

  Would the antitrust division likely challenge the merger

Assume an industry is composed of the following eight firms. Company Market Share Firm A 30 percent Firm B 25 percent Firm C 15 percent Firm D 10 percent Firm E 7 percent Firm F 6 percent Firm G 4 percent Firm H 3 percent a.

  What is the probability that the mean of the sample

According to the Nielson Company, the population mean number of hours of TV viewing per household, per week, in the U.S. is 50.4 with a standard devaition of 11.8 hours. A random sample of 42 U.S. households is taken for a study.

  What is the multiplier for credit-nanced government spending

Draw the Keynesian Cross diagram of this economy. Carefully label intercept and slope of the aggregate demand curve. What is the multiplier for credit-nanced government spending? That is what is the effect of an increase in G while T remain unchang..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd