ECON 250 Midterm: ECON 250 Pastmidterm2 mid2 07

• School: Queen's University
• Department: Economics
• Course: ECON 250
• Professor: All

Document Summary

At the end of the exam are several formulae and the standard normal table. Answers are to be written in the examination booklet. Most of the marks are awarded for showing how a calculation is done and not for the actual calculation itself! There are a total of 100 possible marks to be obtained. Explain what assumptions are required in your answer. Solution if the observations are identically and independently distributed random variables from a common distribution then their mean, x is distributed n ( , x) in the limit as n goes to in nity. That is, we don"t need the distribution tables other than the normal because we can apply the clt. 2. (15 marks) the mean test score for 5th graders is 32 while the mean test score for 3rd graders is 28. The variances of the two test scores are 60 and 50 respectively, and the test scores for both groups are normally (and independently) distributed.