ECON 103 Lecture : Homework1.pdf
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ECON 103 Full Course Notes
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Due: thursday, april 10 in hardcopy at the beginning of class. Consider two random variables x and y . X represents the grades on econ 103 students in the midterm exam, and y represents the grades of econ 103 students in the nal exam. Each variable can take on the following 3 possible outcomes: a, b or c, d or lower. In the rest of the exercise, whenever you are asked to interpret a result, do so in the context of the example. For example, if you are asked to interpret what e(x) represents, an incorrect answer would be e(x) is the expected value of x . Interpret your result. (1 point: compute e(y |x = a). 1: ucla starts a new program to incentivize students to study hard. Every student who shows up at the nal exam is asked to toss a coin. Assume that the outcomes of the coin toss have equal probability.
