Econ 207
Dr. Khan
Fall 2001
EXAM I
Name__________________
ID #____________________
Show all your work, and always write your FORMULAS. ENJOY!!
(20 pts)
1. Given the following set of data for a sample size n = 10:
7
5
11
8
3
6
2
1
9
8
a. Compute and interpret the mean, median, mode, variance, and standard deviation.
b. Compute and interpret second quartile.
c. What is the z-score when X = 8? Interpret the z-score.
( 20 pts)
2. From a list of 6 growth stocks and 4 income stocks, an analyst must pick 2 of them
(without replacement) for his client. What is the probability that
a. both are growth stocks?
b. the first one is a growth stock and the second one is a income stock?
c. If the analyst picks 3 stocks (without replacement) for his client, what is the
probability that 2 of them are growth stocks and the other one is an income stock?
( 20 pts)
3. One hundred voters were asked how they felt about the two candidates, Jessica and
Nick running for MSSA president. Sixty voters said that they liked Jessica, fifty-five said
that they liked Nick, and twenty five said they liked both. What is the probability that
a. Someone likes neither?
b. Someone likes only one of them?
( 15 pts)
4. Two fair dice are tossed. What is the probability that the sum is even, given that the
sum is 4 or less?
(25 pts)
5. Consumer reports for the metro rated the following restaurants on service. The
restaurants are classified as being either old or new and the rating is good or bad.
Good
Bad
Old
15
5
New
15
15
If you were to randomly select a restaurant, what is the probability that
a. a restaurant is old?
b. a restaurant is new or does not give good service?
c. Are “restaurant being old” and “gives bad service” two independent events?
d. Given a restaurant is new, what is the probability that it gives good service?
6. Bonus Problem:
(2 pts)
How did you like the class so far?