ECON 250 Midterm: ECON 250 Pastmidterm1 test1w07 sol

• School: Queen's University
• Department: Economics
• Course: ECON 250
• Professor: All

Document Summary

Economics 250 a and b: introduction to statistics. Most of the marks will be awarded to intermediates steps showing how you got your answers: number of questions: 9. Answer all questions: number of points: 100, time allotted: 120minutes (6pm-8pm). Here is a sample of 1-year returns for nine exchange-traded funds (etfs): 12 (a) the data above are of the continuous numerical type. Answers (a) ratio scale. (b) the sample mean is. The mode is 12 since 12 is the only value appearing more than once. To calculate the median we rst have to sort the data. The median is the 0. 5 (9 + 1) = 5th ordered observation which here is equal to 16. (c) to draw the box plot we need the ve numbers summary: minimum, maximum, q1, q2, q3. Referring to the sorted data above we immediately get m in = 4, m ax = 30. We know that q2 = m edian = 16.