C.18. The 10 economic forecasters of a random sample were asked to forecast the rate of growth of the real gross national product (GNP) for the coming year. Suppose the probability distribution of the r.v.-forecast-is normal. a. The probability is 0.10 that the sample variance of the forecast is more than X percent of the population variance. What is the value of X? b. If the probability is 0.95 so that the sample variance is between X and Y per- cent of the population variance, what will be the values of X and Y?

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Appendix C: SOME IMPORTANT PROBABILITY DISTRIBUTIONS

 

Problem C.18

C.18. The 10 economic forecasters of a random sample were asked to forecast the
rate of growth of the real gross national product (GNP) for the coming year.
Suppose the probability distribution of the r.v.-forecast-is normal.
a. The probability is 0.10 that the sample variance of the forecast is more than
X percent of the population variance. What is the value of X?
b. If the probability is 0.95 so that the sample variance is between X and Y per-
cent of the population variance, what will be the values of X and Y?
Transcribed Image Text:C.18. The 10 economic forecasters of a random sample were asked to forecast the rate of growth of the real gross national product (GNP) for the coming year. Suppose the probability distribution of the r.v.-forecast-is normal. a. The probability is 0.10 that the sample variance of the forecast is more than X percent of the population variance. What is the value of X? b. If the probability is 0.95 so that the sample variance is between X and Y per- cent of the population variance, what will be the values of X and Y?
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