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    Midterm

    Uploaded by

    Hiếu Phan
    The document provides statistical analysis of US GDP and GDP growth rates from 1980-2020. It includes calculations of mean, median, standard deviation, and other measures. Key findings are that the geometric mean of GDP growth from 2001-2020 was 0.587% and the median was 0.022%, indicating less impressive growth compared to the period of 1980-2000.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Midterm

    Uploaded by

    Hiếu Phan
    58 views5 pages
    The document provides statistical analysis of US GDP and GDP growth rates from 1980-2020. It includes calculations of mean, median, standard deviation, and other measures. Key findings are that the geometric mean of GDP growth from 2001-2020 was 0.587% and the median was 0.022%, indicating less impressive growth compared to the period of 1980-2000.

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    The document provides statistical analysis of US GDP and GDP growth rates from 1980-2020. It includes calculations of mean, median, standard deviation, and other measures. Key findings are that the geometric mean of GDP growth from 2001-2020 was 0.587% and the median was 0.022%, indicating less impressive growth compared to the period of 1980-2000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    58 views5 pages

    Midterm

    Uploaded by

    Hiếu Phan
    The document provides statistical analysis of US GDP and GDP growth rates from 1980-2020. It includes calculations of mean, median, standard deviation, and other measures. Key findings are that the geometric mean of GDP growth from 2001-2020 was 0.587% and the median was 0.022%, indicating less impressive growth compared to the period of 1980-2000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Question 15 pts

    Download the following dataset on your device: US_GDP_1980_2020 Download


    US_GDP_1980_2020. This dataset includes the value of US real GDP, measured in billion
    dollars.
    Compute the arithmetic mean for real GDP from 2001 to 2020. (Just put the numerical value of
    the mean, measured in billion dollars--there is no need to put the unit of measurement. Round up
    your answer to two decimal points.)
    16,114.36

    Question 25 pts
    Compute the sample standard deviation for real GDP from 2001 to 2020. (Just put the numerical
    value of the standard deviation, measured in billion dollars--there is no need to put the unit of
    measurement. Round up your answer to two decimal points.)
    396.36

    Question 35 pts
    Compute the geometric mean for the GDP growth rate from 2001 to 2020. Report your answer in
    its decimal representation (rather than percentages). Round up your answer to three decimal
    points.
    0.587

    Question 45 pts
    Compute the median GDP growth rate from 2001 to 2020. Report your answer in its decimal
    representation (rather than percentages). Round up your answer to three decimal points.
    0.022

    Question 55 pts
    Make a comparison between the real GDP growth rate between 1980 and 2000 and the real GDP
    growth rate between 2001 and 2020. Then, choose the correct statement below. Be careful,
    though--there are many details in the statements.
    Group of answer choices

    Growth was less impressive in the former period (1980-2000), compared to the latter period
    (2001-2020). This is evident from the geometric mean and the median rates.

    Growth was more impressive in the former period (1980-2000), compared to the latter period
    (2001-2020). This is evident from the geometric mean and the median rates.

    Geometric means suggest that growth was more impressive in the former period (1980-2000),
    compared to the latter period (2001-2020). The median rates suggest otherwise.

    Medians suggest that growth was less impressive in the former period (1980-2000), compared to
    the latter period (2001-2020). The geometric mean rates suggest otherwise.
    Geometric means suggest that growth was less impressive in the former period (1980-2000),
    compared to the latter period (2001-2020). The median rates suggest otherwise.

    Medians suggest that growth was more impressive in the former period (1980-2000), compared
    to the latter period (2001-2020). The geometric mean rates suggest otherwise.
    Question 65 pts
    Lastly, make use of =QUARTILE function in Excel to compute the interquartile range for the
    GDP growth rate from 2001 to 2020. Report your answer in its decimal representation (rather
    than percentages). Round up your answer to four decimal points.
    0.0119

    Question 75 pts
    Compute the expected value for random variable X. (Report your answer with decimal precision.
    Make sure that you round up your answer to two decimal points.)
    -0.8

    Question 85 pts
    Compute the standard deviation for random variable X. (Report your answer with decimal
    precision. Make sure that you round up your answer to two decimal points.)
    0

    Question 95 pts
    Compute the covariance between random variables X and Y. (Report your answer with decimal
    precision. Make sure that you round up your answer to two decimal points.)
    -5.5

    Question 102.5 pts


    Suppose that X and Y are measured in dollars. The covariance is measured in:
    Group of answer choices

    square-root of dollar, a meaningless unit

    dollar-squared, a meaningless unit

    no units (varies between -1 and +1)

    dollars
    Compute the coefficient of correlation between random variables X and Y. (Report your answer
    with decimal precision. Make sure that you round up your answer to two decimal points.)
    0

    Suppose that X and Y are measured in dollars. The coefficient of correlation is measured in:
    Group of answer choices
    square-root of dollar, a meaningless unit
    dollar-squared, a meaningless unit
    no units (it varies between -1 and 1)
    Dollars
    Question 132.5 pts
    Y~N(45,900); i.e., Y is distributed normally with its mean being equal to 45 and its variance
    being equal to 900 (thus: standard deviation=30).
    Prob.(Y<=32.5)=?
    Report your answer in decimal precision. Round it to two decimal points

    0.35
    Question 142.5 pts
    Y~N(45,900). Compute: Prob.(Y>75)
    Report your answer in decimal precision. Round it to two decimal points.

    0.84
    Question 152.5 pts
    Y~N(45,900). Compute: Prob.(45<Y<=75)

    0.34

    Report your answer in decimal precision. Round it to two decimal points.

    Question 162.5 pts


    Y~N(45,900). Also, Prob.(Y<=Y*)=10%. What is Y*? 5,4
    Report your answer in decimal precision. Round it to two decimal points.

    Question 172.5 pts


    Consider a large population made of 1,000,000 observations (N=1,000,000). From this
    population, we choose 5,000 samples (with replacement). Each sample is of size 144 (n=144).
    Every time that a sample is selected, we compute the mean and we record it in a dataset.
    Ultimately, we end up with 5,000 sample means. Central Limit Theorem implies that:
    Group of answer choices
    the obtained sample means are normally distributed only if the population is normally
    distributed.
    the population is normally distributed.
    the obtained sample means are normally distributed.
    the population is normally distributed only if the obtained sample means are normally
    distributed.
    Question 182.5 pts
    The standard deviation of sampling distribution of means is called: the standard error. Compute
    the standard error, considering the information in the above question and assuming that
    population standard deviation is equal to 24. (Only report the numerical value of the standard
    error. Round up your answer to two decimal points).

    2.
    Question 192.5 pts
    Consider the information in the last two questions. What percentage of sample means are less
    than 97.5, assuming that the population mean is equal to 100? (Report your answer in decimal
    precision (rather than percentages). Round up your answer to two decimal points).

    0.11%.
    Question 202.5 pts
    Consider the information in the last three questions. What percentage of sample means are
    greater than 97.5 yet less than 100? (Report your answer in decimal precision (rather than
    percentages). Round up your answer to two decimal points).

    0.74%.
    A large state university is interested in estimating the average monthly earnings of its alumni
    who graduated with a graduate degree (e.g., MSC, MA, MFA, PhD, etc.) over the last decade.
    From a large population with 5,305 observations (N=5,305), they select a random sample of 200
    observations (n=200). The sample mean is $3,107.25 and the sample standard deviation is
    $419.78. For simplicity, they consider the confidence level to be equal to 95% and critical value
    (the t-value) to be equal to 2.
    Estimate the unknown population mean using a 95% confidence interval.

    between 2919.78$ and 3294.72$.


    Question 215 pts
    What is the lower limit of your confidence interval estimation? (Report your answer in decimal
    precision. Round to two decimal point. And do not enter the unit). 2919.78

    Question 225 pts


    What is the upper limit of your confidence interval estimation? (Report your answer in decimal
    precision. Round to two decimal point. And do not enter the unit). 3294.72
    Question 232.5 pts
    Using the WDI package in R, look for the following term: lending interest rate. It is associated
    with variable name: FR.INR.LEND. Use R to find the median lending interest rate for the United
    States from 1984 to 2017. Then, fill out the blank.
    The median lending interest rate for the US from 1984 to 2017 is about 7,03 percent. (Enter your
    answer with two decimal points)

    Question 242.5 pts


    Using the WDI package in R, look for the following term: stock market return. It is associated
    with variable name: GFDD.OM.02. Use R to find the median stock market return for the United
    States from 1984 to 2017. Then, fill out the blank.
    The median stock market return for the US from 1984 to 2017 is about 10.89 percent. (Enter
    your answer with two decimal points)

    Question 255 pts


    Using the Tidyverse package in R, compute a measure for the stock market premium for United
    States from 1984 to 2017. This premium measure is defined in the following fashion:
    Premiumt=stock market returnt-lending interest ratet (where t varies between 1984 and 2017)
    The median of this measure for stock market premium in the US from 1984 to 2017 is about 4.44
    percent. (Enter your answer with two decimal points)

    Question 265 pts


    Which one of the Tidyverse commands below were useful in generating the Premium variable?
    Group of answer choices
    getwd
    summary
    setwd
    filter
    WDI
    table
    mutate

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