# ECON 390 Kean University Expected Value Applied Economics Questions

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Econ 390
Assignment 2
Late submissions are not accepted
1.
a.
b.
c.
Table below summarizes the distribution of grades in School X.
What is the Expected Values of the grades?
What is the Variance of the grades?
What is the Standard Deviation of the grades?
100
95
85
55
5
Probability
0.50
0.10
0.15
0.17
0.08
2. ??~??(1,25) , provide the approximate distribution of y in a graph. (hint: using the 0.95
area fact, we know 95% of the area under the distribution of y must be between ??! ?
1.96 ? ??! and ??! + 1.96 ? ??! . So this can give you the scale of the graph.)
3.
4.
5.
If ??~?? (0,1) then find ??(?? ? 0.45) (from the table)
If ??~?? (0,14) then find ??(?? ? 9)(change B to Z and find the answer from the table)
If ??~?? (2,9) then find ??(?? ? 3.5)(change y to Z and find the answer from the table)