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E205 - Problem Set 4

This document contains a problem set for an economics statistics course. It includes 7 practice problems related to probability distributions including normal, uniform, and exponential distributions. The problems involve calculating probabilities and distributions for scenarios like the expected due date for a birth compared to travel dates, the probability of coin flip outcomes in 200 trials, and shipping contract bid amounts.

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62 views2 pages

E205 - Problem Set 4

This document contains a problem set for an economics statistics course. It includes 7 practice problems related to probability distributions including normal, uniform, and exponential distributions. The problems involve calculating probabilities and distributions for scenarios like the expected due date for a birth compared to travel dates, the probability of coin flip outcomes in 200 trials, and shipping contract bid amounts.

Uploaded by

giz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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METU Department of Economics Instructors: E. ERDIL, Y.

AKDI
ECON 205 - STATISTICS FOR ECONOMISTS I T.A.: Nurbanu HUYUGÜZEL
2018-2019 Fall S.A.: E. SINCI, D. VICDAN

PROBLEM SET 4

1. Melissa is pregnant and due in 100 days. Suppose that the probability density
distribution function for having a child is approximately normal with
mean 100 and standard deviation 8. Melissa has an overseas trip and will return
in 85 days and have to go on another overseas trip in 107 days.

a. What is the probability that the birth will occur before her second trip?
b. What is the probability that the birth will occur after she returns from her first
overseas trip?
c. What is the probability that she will be here for the birth?

2. It is known that P(79-a≤X≤79+b)=0.6463.

Given that P(X≥79+b)=2P(X≤79-a)


a. Calculate the shaded area.
b. Find the value of b.

3. The amount of time, in minutes, that Burcu must wait for a bus is uniformly
distributed between 0 and 15 minutes, inclusive.
a. What is the probability that Burcu waits fewer than 12.5 minutes? 

b. On the average, how long must Burcu wait? Find the mean, μ, and the standard

deviation, σ. 


c. Ninety percent of the time, the time Burcu must wait falls below what value?

4. We toss a fair coin 200 times.

a. Find the probability that at most 80 heads by using normal distribution.


b. Find P (90 ≤ 𝑋 ≤ 110).

1
METU Department of Economics Instructors: E. ERDIL, Y. AKDI
ECON 205 - STATISTICS FOR ECONOMISTS I T.A.: Nurbanu HUYUGÜZEL
2018-2019 Fall S.A.: E. SINCI, D. VICDAN

5. Upon studying low bids for shipping contracts, a microcomputer manufacturing


company finds that intrastate contracts have low bids that are uniformly
distributed between 22 and 38, in units of thousands dollars.
a. Write out the uniform density function f(y) for the contract low bids, replacing
parameters with specific values for this question. Be sure to include the ranges
for y.
b. Find the probability that the low bid on the next intrastate shipping contract is
greater than $26,000, i.e. find 𝑃(𝑌 > 26)
c. Find 𝑃(𝑌 ≥ 25|𝑌 < 29)
d. Find 𝐸(𝑌) , 𝑢𝑠𝑖𝑛𝑔 𝑘𝑛𝑜𝑤𝑛 𝑝𝑟𝑜𝑝𝑒𝑟𝑡𝑖𝑒𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑢𝑛𝑖𝑓𝑜𝑟𝑚 𝑑𝑖𝑠𝑡𝑟𝑖𝑏𝑢𝑖𝑡𝑜𝑛
e. Find 𝑉𝑎𝑟(𝑌) , 𝑢𝑠𝑖𝑛𝑔 𝑘𝑛𝑜𝑤𝑛 𝑝𝑟𝑜𝑝𝑒𝑟𝑡𝑖𝑒𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑢𝑛𝑖𝑓𝑜𝑟𝑚 𝑑𝑖𝑠𝑡𝑟𝑖𝑏𝑢𝑖𝑡𝑜𝑛
f. Find 𝐸(𝑌 )
g. Find 𝐸(𝑌 − 4𝑌)

6. A soft-drink machine can be regulated so that it discharges an average of 𝜇 ounces


per cup. If the ounces of fill are normally distributed with standard deviation 0.3
ounce, give the setting for 𝜇 so that 8 ounce cups will overflow only 1% of the time.

7. Suppose that a continuous random variable X has exponential distribution with


𝛽 = 10 . Find the probability that X is greater than 20. Find the probability that X
is less than 15 given that X is greater than 10.

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