ECON 250 Midterm: ECON 250 Pastmidterm2 Econ290mid2F2009

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

Document Summary

At the end of the exam are several formulae, the cumulative binomial and standard normal distribution. Answers are to be written in the examination booklet. Most of the marks are awarded for showing how a calculation is done and not for the actual calculation itself! There are a total of 100 possible marks. Answer all ten (10) questions (marks are indicated) Part i (50 marks) there are 5 questions in total for this part. It has been determined that a full 2 second stop is required legally at all stop signs for safety considerations. Motorists are equally like to stop between 0 and 10 seconds at any stop sign. A tra(cid:14)c cop is secretly watching in the bushes and has a quota of 4 tickets for too short a stop. Show the probability in a diagram and explain the distribution you are using. We are assunming that drivers behaviour is independent. Let t denote the number of tra(cid:14)c tickets.