## 2017_1 TMA Solutions - ECO253, Statistics For Economist I

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### 2017_1 TMA Solutions - ECO253, Statistics For Economist I

1 If we are interested in selection of 60 households from a population of 300 households using simple random sampling, the probability of a particular household being selected is

one-fifth

2 _______________ is not a common design of probability sample.

simple sampling

3 Three major designs utilizing non-probability samples have been employed by social scientists, and these include the following except

quarterly samples.

4 The accuracy of a sample depends, first and foremost, on the ________________.

sampling frame

5 A single member of a sampling population is referred to as a ______________.

sampling unit

6 If you are investigating consumer behaviour in a particular city, you might define the population as all the ______________ in that city

households

7 The specific nature of the population depends on the research _______________

problem

8 To accurately estimate unknown parameters from known statistics, researchers have to effectively deal with three major problems. These are the following except ________________

the mean of the sample .

9 A particular value of the sample, such as the mean income or the level of formal education, is called a ________________

statistic

10 A particular value of the population, such as the mean income or the level of formal education, is called a________________

parameter

11 Aggregate of prices (of all the selected commodities) in the current year as a percentage of the aggregate of prices in the base year. This is a _______________ of calculating index number

Simple (unweight) Aggregate Method

12 ___________________ is not an example of price index

Retail Price Index Number

13 The logarithm of a product is simply the _______________ of the logarithms of the factors

sum

14 ____________________ is not of the ways to evaluate the reliability of a linear regression model

the econometric confidence interval

15 The best fit line can be given as __________________

y = a + bx

16 Typical regression model is specified in form of____________________

Y = a + bX + e

17 _____________________ is not another name for dependent variable

regressor

18 _______________ is the variable whose value is influenced or is to be predicted

Dependent Variable

19 _______________________ is a mathematical measure of the average relationship between two or more variables in terms of the original units of the data.ǁ

Regression ana lysis

20 Spearman‘s rho/Rank Correlation Coefficient is a _______________

nonparame tric

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### Re: 2017_1 TMA Solutions - ECO253, Statistics For Economist I

1 Another name for f-test is ________________

ANOVA

2 Statistical hypothesis testing is sometimes called ________________ data analysis,

confirmatory

3 The ___________________ of a hypothesis test is the set of all outcomes which cause the null hypothesis to be rejected in favour of the alternative hypothesis.

critical region

4 Given a normal distribution with mean of 230 and standard deviation of 20, what is the probability that an observation from this population is Less than 220?

0.3085

5 Using normal tables, find the values of the probability P(z < 0.50).

0.6915

6 The total area under the curve and above the horizontal axis is equal to

1

7 In normal distribution, the curve is _____________ about a vertical axis through the mean μ

symmetric

8 The normal distribution was first discovered by English Mathematician De-voire in

1733

9 In a normal distribution, the mode which is the point on the horizontal axis where the curve is a maximum occurs at

X = μ

10 Normal distribution is also known as ___________________ distribution

Gaussian

11 _____________________ , is then termed as the probability of failure (non-occurrence of the event) and is constant for each trial.

q = 1-p

12 The probability of success (happening of an event) in any trial is __________________ and is constant for each trial.

p

13 The outcome of the random experiment (trial) results in the ______________ classification of events.

dichotomo us

14 Find the probability of getting 5 in a single throw of a dice.

one -sixth

15 In an experiment of a single toss of a coin, the coin might come up heads with probability P and tails with probability 1-P. The experiment is called fair if, _______________

P=0 .5

16 The probability of any specific, infinitely long sequence of coin flips is exactly

zero

17 The two possible values of each Xi are often called "success" and "failure"

"success and "failure "

18 The component Bernoulli variables Xi are identical and ___________________

independent

19 A Bernoulli process is also a _______________________ stochastic process

discrete- time

20 A Bernoulli process is a finite or infinite sequence of ________________ random variable

binary
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### Re: 2017_1 TMA Solutions - ECO253, Statistics For Economist I

1 Given two variables X and Y: If r = -1, there is a perfect _______________ relationship between Y and X.

inverse or negative

2 ___________________ is not one of the methods of studying correlation

Scatter Table method

3 One may observe a high degree of correlation between the height and intelligence in a group of people. Such correlation is called ______________ correlation.

spurious or non-sense

4 If x: 1 2 3 4 5 and y:2 5 8 11 14, this relationship can be expressed as ____________________

y = 2+3x

5 Two variables are said to be linearly related if they have a relationship of the form

y = a+bx

6 __________________ is not an example of possible positive correlations

Price and market of a commodity

7 Mann–Whitney U or Wilcoxon rank sum test: tests whether two samples are drawn from the same distribution, as compared to a given ___________ hypothesis

altern ative

8 Spearman's rank correlation coefficient measures statistical dependence between two variables using a______________ function

monotonic

9 In ANOVA within samples sum of squares is obtained by ________________

subtracting Between Samples Sum of Squares from the Total Sum of Squares

10 For the validity of the F-test in ANOVA, the following assumption are made except

The observations are dependent

11 The total variation in any set of numerical data is due to a number of causes which may be classified as _____________________

(i) assignable causes and (ii) chance causes

12 The term Analysis of Variance was introduced by Prof. R.A Fisher in 1920s to deal with problem s in the analysis of ________________

agronomica l

13 The square of a standard normal variable is called a Chi-square variate with _______________ degree of freedom

1

14 F-test is also known as _____________

variance ratio t est

15 The sampling distribution of F-statistics does not involve any population parameters and depends only on the degrees of freedom

n1 and n2

16 F-statistic is the ratio of _________________ chi-square variates divided by their respective degrees of freedom

two independent

17 Prices of shares of a company on the different days in a month were found to be: 66, 65, 69,70, 69, 71, 70, 63, 64 and 68. What is the mean price of the price of the shares in the month?

67.5

18 Ten cartons are taken at random from an automatic filling machine. The mean net weight of the 10 cartons is 11.8kg and standard deviation is 0.15kg. Does the sample mean differ significantly from the intended weight of 12kg, α=0.05

yes

19 The assumptions for Student’s test do not include __________________

The population standard deviation ζ is known

20 If the absolute value of the calculated t is greater than tabulated t, we say it is significant and the null hypothesis is ______________

rejec ted
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### Re: 2017_1 TMA Solutions - ECO253, Statistics For Economist I

1 Let the variance of each Xi be σ2. It then follows from the Chebyshev inequality that for every number ___________________

ε >0

2 If x: 1 2 3 4 5 and y:2 5 8 11 14, then this relationship can be expressed as

y = 2+3x

3 _____________________ is not an example of negative correlation

age and marriage

4 Correlation coefficients have a value between __________________

-1 and +1

5 A _______________________ is a succession of identical letters (or other kinds of symbol) which is preceded and followed by different letters or no letters at all

run

6 The first meaning of non-parametric covers ________________ that do not rely on data belonging to any particular distribution.

techniques

7 Null Hypothesis: Ho: μ1 = μ2 = μ3 = ..............= μk, i.e, all means are ______________

equal

8 For the contingency table data, the null hypothesis is always set up that the attributes under consideration are _____________________.

indepen dent

9 The Least Significant Difference (LSD) at the given level of significance is also known as

Critical Difference (CD)

10 If Total Sum of Squares (TSS) is 151.8096 and Between Sample Sum of Squares (BSSS) is 4.1048, calculate Within Sample (Error) Sum of Square (WSSS)

147.7044

11 If the calculated χ2 value is 57.97 and the tabulated value of χ2(r-1)(s-1) = 12.59 (critical value), then decision is _______________

reject Ho

12 Chi-square distribution has a number of applications, some of which are enumerated below except _______________

To test the equality of several sample proportions

13 Using normal tables, find the values of the probability of P(z < 0.50)

0.0387

14 Because a normal curve is symmetrical about its mean, P(z < -a) = P(z > a) and P(z < a) + P(z > a) = _________________

1

15 In the normal distribution,

mode

16 For the Binomial Distribution; Mean=np; and Variance = _________________

npq

17 ______________ is termed as the probability of failure (non-occurrence of the event) and is constant for each trial

q = 1-p,

18 Find the probability of getting a head in a single toss of a coin.

0.2

19 There are three methods of data collection with survey and these are the following except

job interviews

20 Another name for standard error is _______________________

error margin

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