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Economics (454)
ECON 2P03 (13)
Midterm

# Midterm Review in class.docx

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School
McMaster University
Department
Economics
Course
ECON 2P03
Professor
Hannah Holmes
Semester
Fall

Description
Midterm Review 1. You take the standard deviation 2. X bar is = .500 3. You calculate the league average 4. X-x(bar) -> mean – x bar 5. You square all the numbers that you’ve just calculated 6. Then you add them up 7. .325 8. If there are 8 teams then n= 8 Sd = square root of .325/8 = .202 9. That is the spread of the league average 10. We know that most of these lie between the league average What would be the ideal standard deviation? SdI = .500/square root of 36 = .500/6= .08 c) Calculate and interpret the R- statistic… R= sd/sdI = .202/.0 = 2.53 The sD of the winning percentage in the league is 2.53 times what it would b
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