ECON 250 Midterm: ECON 250 Pastmidterm2 Econ250midterm2W11
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ECON 250 Full Course Notes
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Answer all four questions in the answer booklet provided. Formulas and tables are provided at the end of the question pages: a training program enrols 100 people. Suppose that in the population the training leads to a job with probability 0. 7 and that this outcome is independent across people. (a) what is the probability that the sample proportion that nds a job is greater than. 0. 75? (b) in fact, an investigator does not know the probability that training leads to a job but must draw inference from a sample. Suppose that in this sample 80 people nd jobs. Find a 95% con dence interval for the true but unknown success rate in the population: suppose that we label the length of unemployment spells by x. A researcher studies a sample of 20 such spells and nds that the sample average is 13 weeks and the sample standard deviation is 6 weeks. The correlation between the two returns is 0. 5.
