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Economics for Management Studies
Victor Yu

ECMB12H3 Lec30 and Lec60 Quantitative Methods in Economics II Department of Management University of Toronto at Scarborough JanuaryMay 2011 Dr Yu Test 2Date Saturday March 19 2011 911amTime allowedTwo 2 hoursAids allowed CalculatorNotesThis test consists of 21 questions in 11 pages including this cover pageIt is the students responsibility to hand in all pages of this testAny missing page will get zero markStatistical tables are provided separatelyDo not hand in the tablesOnly hand in your test papersShow your work in each question in Part IIThis test is worth 30 of your course gradePrint Last Name SolutionGiven Names Student Number Circle your SectionL30 Wednesday at 7 pmL60 OnlineDo not write on the space below for markers only Page Question Max Marks 28 120 609 21 51011 22ab 101214 23abcd 151516 24abc 10Total 1001 Part IMultiple Choice3 points in each question No part mark Circle only one answer If there are more than one correct answer circle the best one1 Letbe a normal random variable with mean 6 and variance 1be a normal XX12random variable with mean 7 and variance 1andare independent The XX12probabilityis equal to XXP21a 005 b 01 c 0242d 0258 e 0758Solutionis normal with meanand variance176XX21121101XX2124207100ZPPXXP2122 2 Letbe a random sample of size 3 from a normal population with mean 1 XXX312and variance 4The probabilityis equal to 722XXXP321a 00005b 01597 c 03403 d 06502 e 08403Solution1121212222XXEXEXXXE32132136444444422XVarXVarXVarXXXVar32132117122XXX321722XXXP159701ZPP3213636 3 There are two methods to assemble a computer The plant manger randomly selected 10 workers to assemble the computer using method A and independently another 10 workers to assemble the computer using method B The sample mean of the assembly time is 18 minutes for method A and 14 minutes for method B The sample standard deviation is 3 minutes for method A and also 3 minutes for method BTo testis the average assembly time in method A and 2H2H2101211 is the average assembly time in method BThe test statistic is 2b cd a 491Z491t222121e0502
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