UCLA Economics Worksheet

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Homework 2
1.
The number of semester hours of college credit taken by CFA candidates has a distribution with
a mean of 141 hours and a standard deviation of 18 hours. Consider a random sample of 100
first-time candidates for the CFA exam and let ž represent the mean number of hours of college
credit taken for the sample.
a.
What if uz?
b. What is oz?
C.
Describe the shape of the sampling distribution of x.
d.
Find the z-score for the value i = 142 hours.
Find P(x > 142)
1
ECON 15B
2. The Food and Drug Administration is checking the amount of cereal that a breakfast food company
is putting in their boxes. The packaging process for the breakfast cereal has been adjusted so that
566 grams of cereal is supposed to be dispensed into each box. The standard deviation for the
population is unknown, but the standard deviation from a sample of 49 boxes is 56 grams. What
is the probability that anywhere from 550 and 574 grams on average is dispensed in each box?
Answer: Probability that anywhere from 550 and 574 grams on average is dispensed in each box
is
ECON 15B
2. The Food and Drug Administration is checking the amount of cereal that a breakfast food company
is putting in their boxes. The packaging process for the breakfast cereal has been adjusted so that
566 grams of cereal is supposed to be dispensed into each box. The standard deviation for the
population is unknown, but the standard deviation from a sample of 49 boxes is 56 grams. What
is the probability that anywhere from 550 and 574 grams on average is dispensed in each box?
Answer: Probability that anywhere from 550 and 574 grams on average is dispensed in each box
is
3. Assume that the amount of time an Internal Revenue Service examiner is supposed to spend
reviewing a randomly selected return is 55.1 minutes, with a standard deviation of about 17.6
minutes. If a sample of 35 such reviews is selected, what is the probability that the average review
time is more than an hour?
Answer: The probability that the average review time is more than an hour is
2
Answer: The probability that the average review time is more than an hour is
2
ECON 15B
4. In a study of factors that affect whether students return to college after the first semester, one of
the factors examined was the number of hours worked per week. The analysis revealed that
students typically work an average of 18.1 hours per week, with a standard deviation of 15.3
hours. If we consider a group of 700 freshmen at a community college, what is the probability that
the average number of hours worked per week is more than 20 hours?
Answer: The probability that the average number of hours worked per week is more than 20
hours is

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Tags:
standard deviation

probability

economics

Normal Distribution

Sampling distribution

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