Reference no: EM131086966
Econ 310, Spring 2014- Week 2:
Question 1: Calculate the mean, median, mode, and variance of the following students grades:
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Table: Data Categories
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Student
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Grade
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Tom
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80
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Sean
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90
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Ed
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60
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Ben
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70
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Nate
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80
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How do you interpret the standard deviation? Here's a "Rule of Thumb", dubbed the "Empirical Rule": If the histogram of the data is approximately bell-shaped, then:
i. Approximately 68% of all observations fall within 1 standard devation of the mean.
ii. Approximately 95% of all observations fall within 2 standard devation of the mean.
iii. Approximately 99.7% of all observations fall within 3 standard devation of the mean.
But, more generally, Chebysheff's Theorem says: the fraction of observations in any sample or population that lie within k standard deviations of the mean is at least:
1 - 1/k2 for k > 1
Another way of measuring variation is through percentiles. For example, the 25th percentile of data (first quartile) is where 25% of the data is below a value and 75% of the data is above. The interquartile range is the difference between the third quartile and the first quartile.
Question 2: Calculate the variance of the following grade data. How much data falls within 1 standard deviation of the data? Does it correspond with the empirical rule? Does it correspond with Chebysheff's Theorem? What is the interquartile range?
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Table 3: Data Categories
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Student
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Grade
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Did you eat ice cream before the exam?
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1
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1
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0
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2
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2
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0
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3
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2
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1
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4
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3
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1
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5
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3
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1
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6
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3
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0
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7
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4
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0
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8
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4
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1
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9
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5
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1
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10
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6
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0
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Question 3: Correlations. From the above data, calculate the covariance and correlation between grade and ice cream consumption. Can you infer anything? What does the correlation number mean?
Question 4: Interpret this figure plot
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Describe the behavioral and physical effects of nicotine
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History of a management style
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Find the gain margin and phase margin
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Question regarding the foreign exchange market
: Identify and explain three ways in which a floating currency can be managed by its monetary authorities when intervening in the foreign exchange market?
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What does the correlation number mean
: Correlations. From the above data, calculate the covariance and correlation between grade and ice cream consumption. Can you infer anything? What does the correlation number mean
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Capstan autos operated an east coast dealership
: Capstan Autos operated an East Coast dealership for a major Japanese car manufacturer. Capstan's owner, Sidney Capstan, attributed much of the business's success to its no-frills policy of competitive pricing and immediate cash payment.
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How many degrees of phase lag does this system have
: How many degrees of phase lag does this system have under these conditions?
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How much did she pay in interest
: Diane Van Os decided to buy a new car since her credit union was offering such low interest rates. She borrowed $31,100 at 5.5% on December 28 2012, and paid it off February 23 2014. How much did she pay in interest?
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How will you avoid using fallacious reasoning in your essay
: As you are working on your outline this week, review your three subtopics. Do you see any fallacies in them? How will you avoid using fallacious reasoning in your essay?
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