Description

1 attachmentsSlide 1 of 1attachment_1attachment_1.slider-slide > img { width: 100%; display: block; }

.slider-slide > img:focus { margin: auto; }

Unformatted Attachment Preview

Quantitative Methods for Economics Assignment 1

1. A trucking company is tracking the total distance and time taken per delivery

assignment for each of its 10 trucks. It has recorded the following data:

x = distance

(km)

100

50

100

100

50

80

75

65

90

90

y = time

(hrs)

9.3

4.8

8.9

6.5

4.2

6.2

7.4

6.0

7.6

6.1

You must show your work (formulas with substitutions) to receive full marks.

a) Calculate summary statistics for distance and time: mean, median, range,

variance and standard deviation (using the population formulas). (5

marks)

b) Calculate the least-squares line. (2 marks)

c) Interpret the regression results. (2 marks)

d) Estimate the time taken for a delivery distance of 60km. (1 mark)

e) Calculate ??2 and r. (3 marks)

2. A box contains 16 flashlights, 4 of which are defective. If 4 flashlights are

selected at random without replacement, what is the probability that:

a) no defective flashlights are selected. (2 marks)

b) two defective flashlights are selected. (2 marks)

c) all four flashlights are defective. (2 marks)

d) at least one defective flashlight is selected. (2

marks) Question 3 next page

3. A websites daily traffic follows a normal distribution, with a mean of 2.5

million visitors per day and a standard deviation of 620,000 visitors per day.

a) What is the probability that the website has less than 3 million visitors in a

single day? (2 marks)

b) What is the probability that the website has more than 1.5 million visitors in a

single day? (2 marks)

c) What is the probability that the website has between 2 million and 3 million

visitors in a single day? (2 marks)

d) Assume that 85% of the time, the websites servers can handle the daily traffic

volume without purchasing additional server capacity. What is the amount of traffic

that will require the website to purchase additional server capacity? (3 marks)

Assignment 2 Intermediate economics.

Suppose Japanese cars and American cars are identical from their owners’ point

of view, but Japanese cars cause harmful pollution while American cars do not.

Each American owner of a Japanese car imposes $1,000 worth of pollution costs

on his neighbors. Suppose the U.S. supply and demand curves cross at a price of

$10,000, but Americans can buy as many cars as they want to from Japan at

$7,000 apiece.

1. Suppose the U.S. government imposes a tariff of $1,000 apiece on all

Japanese cars sold in the United States. Illustrate the gains and losses to all

relevant groups of Americans. Does the tariff increase or decrease social

welfare? By how much?

2. Suppose the U.S. government imposes a tax of $1,000 on all cars sold in the

United States, both foreign and domestic. Illustrate the gains and losses to all

relevant groups of Americans. Does the tax increase or decrease social welfare?

By how much?

3. Suppose the U.S. government offers a subsidy of $1,000 per car to all

American car makers. Illustrate the gains and losses to all relevant groups of

Americans. Does the subsidy increase or decrease social welfare? By how much?

Purchase answer to see full

attachment

Explanation & Answer:

11 pages

Tags:

economics

Quantitative

trucking company

User generated content is uploaded by users for the purposes of learning and should be used following FENTYESSAYS.COM ESSAY’s honor code & terms of service.