1. (a) Suppose that x1 = -5, x2 = 36, x3 = Calculate the following quantities: 4, and y1 = -7, y2 = 0.5, y3 = 1. 2 3 3 i. EVEi iii. yı|+> ii. i=2 i=1

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1. (a) Suppose that x1 = -5, x2
Calculate the following quantities:
36, х3 — 4, and yi %3D
—7, У2 —
0.5, уз — 1.
2
3
3
ii.
iii. lyı|+
i=2
i=1
i=2
(b) Classify each
(continuous) or categorical. If a variable is categorical, further classify it as
either nominal or ordinal. Justify your answer.
of the following variables
either measurable
one
as
i. Exchange rate between two currencies.
ii. Candidate number in an examination.
iii. University degree type (in terms of Bachelors, Masters, Ph.D.).
(c) State whether the following statements are true or false, and provide a brief
explanation.
i. For a set of observations x1, x2, . .. , xn, with mean ĩ, then:
(x; – ) < 0.
i=1
ii. For two mutually exclusive events A and B, then:
Р(AU B) > P(A) + P(B).
iii. For a random variable X, (E(X))² can be greater than E(X?).
iv. Failure to reject a false null hypothesis is known as the power of a test.
v. A 5-by-3 contingency table which results in a x? test statistic value of
15.312 is statistically significant at the 1% significance level.
Transcribed Image Text:1. (a) Suppose that x1 = -5, x2 Calculate the following quantities: 36, х3 — 4, and yi %3D —7, У2 — 0.5, уз — 1. 2 3 3 ii. iii. lyı|+ i=2 i=1 i=2 (b) Classify each (continuous) or categorical. If a variable is categorical, further classify it as either nominal or ordinal. Justify your answer. of the following variables either measurable one as i. Exchange rate between two currencies. ii. Candidate number in an examination. iii. University degree type (in terms of Bachelors, Masters, Ph.D.). (c) State whether the following statements are true or false, and provide a brief explanation. i. For a set of observations x1, x2, . .. , xn, with mean ĩ, then: (x; – ) < 0. i=1 ii. For two mutually exclusive events A and B, then: Р(AU B) > P(A) + P(B). iii. For a random variable X, (E(X))² can be greater than E(X?). iv. Failure to reject a false null hypothesis is known as the power of a test. v. A 5-by-3 contingency table which results in a x? test statistic value of 15.312 is statistically significant at the 1% significance level.
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