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Past Exam for ECON 321 - ECON STAT at Maryland (UMD)

Exam Information

Material Type:Exam 1
Professor:Staff
Class:ECON 321 - ECON STAT
Subject:Economics
University:University of Maryland
Term:--
Keywords:
  • Coefficient of Variation
  • The Independent
  • Independent
  • Probability Distribution
  • Distribution
  • Exclusive Or
  • Probabilities
  • Independent Events
  • No Correlation
  • Conditional
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Sample Document Text

" l~r4lVC D '1 1(, 1 {r6~/!'i. (·~··IV/b:~2.) ECON 321 1st Hourly (25 points) 1. (4 points) Consider the following experiment. Randomly selecting :2 secretaries from a pool 1"here 50 percent can type (T), 30 percent can run a mimeo machine (M), and 20 percent can do neither (N). (a) Construct the sampl1e space for this experiment. (b) Construct the random variable T and its associated probability distribution where T is the number of secretaries that can typli:!. 2. (7 points) Indicate whether the following statements are true or false and explain why. 3. (a) If A and B are independent events, they are also mutually exclusive events. (b) If A, B, and C are ,events in a sample space, then the following assignment of probabilities is consistent with the axioms of probability theory P(A) - .20, P(B) - .25, P(C) = .10, P(AUC) ,= .25, p(BuC) - .20. (c) If one tosses 8 coins as part of an experiment, (1) the total numher of elementary outcomes will be 256. (2) 20 of the ele...

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