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    ps4 Econstat2024-1

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    Manik K
    This document contains an economics statistics problem set with three questions. The first question involves determining a confidence interval for the mean lifetime of lightbulbs given sample data. The second question involves performing statistical tests to compare the standard deviations of daily stock returns. The third question involves performing statistical tests and determining a confidence interval for the proportion of US adults favoring an economic stimulus plan based on poll sample data.

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    ps4 Econstat2024-1

    Uploaded by

    Manik K
    3 views1 page
    This document contains an economics statistics problem set with three questions. The first question involves determining a confidence interval for the mean lifetime of lightbulbs given sample data. The second question involves performing statistical tests to compare the standard deviations of daily stock returns. The third question involves performing statistical tests and determining a confidence interval for the proportion of US adults favoring an economic stimulus plan based on poll sample data.

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    ps4_econStat2024-1

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    This document contains an economics statistics problem set with three questions. The first question involves determining a confidence interval for the mean lifetime of lightbulbs given sample data. The second question involves performing statistical tests to compare the standard deviations of daily stock returns. The third question involves performing statistical tests and determining a confidence interval for the proportion of US adults favoring an economic stimulus plan based on poll sample data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3 views1 page

    ps4 Econstat2024-1

    Uploaded by

    Manik K
    This document contains an economics statistics problem set with three questions. The first question involves determining a confidence interval for the mean lifetime of lightbulbs given sample data. The second question involves performing statistical tests to compare the standard deviations of daily stock returns. The third question involves performing statistical tests and determining a confidence interval for the proportion of US adults favoring an economic stimulus plan based on poll sample data.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 1

    Economic Statistics Problem Set 4

    Due June 9th, Friday, 23:59

    Q1. A firm produces bulbs whose lifetimes are normally distributed with mean
    . The firm randomly sampled 100 bulbs it produced to find that the sample
    mean was 5,000 hours and the sample standard deviation was 70 hours.

    Q1-1. Assuming that the population standard deviation of the bulb’s lifetime is
    60 hours, determine a 95% confidence interval for .
    Q1-2. Assuming that the population standard deviation is unknown, determine a
    95% confidence interval for .
    Q1-3. Assume that the population standard deviation is unknown. The firm
    decided to sample 100 bulbs everyday to derive a 95% confidence interval for
    the true mean lifetime. Among the 120 confidence intervals the firm will obtain
    for the next four months, how many of them are expected to indeed contain ?

    Q2. There are two stocks, A and B. The daily return of stock  is normally
    distributed with mean  and standard deviation  ( A,B). A random sample
    of size    leads to sample mean 
        and sample standard deviation

       . For stock B, 
        and     with    samples.

    Q2-1. Perform a chi-sqaure test to decide whether  is greater than  at


    the 5% significance level. What is the p-value given your sample?
    Q2-2. Perform an F test to decide whether  is different from  at the 5%
    significance level. What is the p-value given your samples?

    Q3. (NW Exercise 12.91, p.583, modified) In a national poll, 525 out of 1,000
    US adults favored Economic Stimulus Plan.

    Q3-1. Perform a z test to decide whether more than a half of US adults favored
    the plan at the 1% significance level. What is the p-value given your data?
    Q3-2. Provide a 99% confidence interval for the population proportion favoring
    the plan.
    Q3-3. To halve the margin of error computed in Q3-2, how large a sample
    would you need?

    Useful tables:
    (1) z-table: http://www.socr.ucla.edu/Applets.dir/Z-table.html
    (2) t-table: http://www.socr.ucla.edu/Applets.dir/T-table.html
    (3) -table: http://www.socr.ucla.edu/Applets.dir/ChiSquareTable.html
    (4) F-table: http://www.socr.ucla.edu/Applets.dir/F_Table.html

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