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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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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