Complete Economics Worksheet NO PLAGISRISM

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Albany State University
Department of Business Administration
Basic Statistics 3205
Final Examination
Amaechi N. Nwaokaro, PhD
Instruction: Instruction: Answer all the questions with the key word or words in Part A.
A perfect answer to each question in part A is worth 2 percentage points (20 percentage
points) for the 10 questions. Solve the Problems in Parts B and C and answer the
questions following each. Each perfect solution to B and C parts is 40 percentage points
(80 percentage points). The least percentage points from all the parts is 100.
Part A
1) What is the idea behind frequency distribution?
2) Which is the common sampling method?
3) What is the measure of central tendency called?
4) What observation basically describes a sample size?
5) What is the measure of dispersion from a mean called?
6) Sample mean or the population mean: which varies the most?
7) Sample mean or individual observation: which varies the most?
8) What is the benefit of increasing the sample size?
9) Numerically characterize a Standard Normal Distribution
10) What is the very important characteristic of t-distribution?
1
Part B
2) With the following randomly selected observations:
a) Determine the Regression Equation.
b) Determine the value of Y hat when X is 7
X
5
3
6
3
4
4
6
8
Y
13
15
7
12
13
11
9
5
XY
X2
Part C
2) From the following randomly selected observations:
a) Determine the Pearson Coefficient of Correlation, r.
b) Interpret the association between X and Y.
c) Estimate the Coefficient of Determination, R2.
X
5
3
6
3
4
4
6
8
X-x
(X- x )2
Y
13
15
7
12
13
11
9
5
(Y-y)
2
(Y-y) 2
(X-x)(Y-y)

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