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Provide your numerical answers after rounding them to 2 digits after the decimal point

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Provide your numerical answers after rounding them to 2 digits after the decimal point. (Round up if the third digit is 5 or larger, down if it is 4 or smaller, e.g. type 1.78 if your calculation results in 1.783, type 0.04 if it results in 0.038, type 0.10 if it results in 0.101, etc.) However, in order to obtain accurate final answers, do not round numbers during your calculation.

• Compute and type the missing probability, Pr(x = 50), in the space provided in the table.

• The expected value of the prize, E(X), is equal to $

• The standard deviation is a measure of absolute risk. For this lottery, it is equal to S

Consider another lottery prize Y that is equal to Y = 0.1 + 0.5X where X is the prize that we considered above.

• The expected value of the prize, E(Y), is equal to $

• The standard deviation of Y is equal to $

Based on your comparison of the coefficients of variation for X and Y, which lottery is preferred?

The table below shows the probability distribution of a lottery prize X in dollars ($) with Pr(X = x) denoting the probability that the prize is a specific amount $x_

You may use Excel for calculation in answering the questions below.

Provide your numerical answers after rounding them to 2 digits after the decimal point. (Round up if the third digit is 5 or larger, down if it is 4 or smaller, e.g. type 1.78 if your calculation results in 1.783, type 0.04 if it results in 0.038, type 0.10 if it results in 0.101, etc.) However, in order to obtain accurate final answers, do not round numbers during your calculation.

 

 

The following equation models a linear relationship of a worker's hourly remuneration (Wage in dollars) with her or his education (Educ in years), work experience (Exper in years) and tenure with the current employer (Tenure in years):

Wage = βo + β1Educ+ β2Exper+ β3 Tenur+E with E~N(0, some constant)

Answer the following questions by selecting the best option from the drop down menu or typing your answer in the box next to the question. You may use Excel for calculation in answering the questions below. Provide your numerical answers after rounding them to 3 digits after the decimal pint. (Round up if the fourth digit is 5 or law down if it is 4 or smaller, e.g. type 1.783 if your calculation resuks in 1.7832, type 0.039 if it results in 0.0387, type 0.101 if it results in 0.1006, etc.) However, in order to obtain accurate final answers, do not round numbers during your calculation. If your answer is an integer, just type it, e.g. type 12 if your answer is 12.

• The following table has been obtained by regressing Wage on the three exogenous variables. Several statistics are deliberately missing in the table. Obtain and type them in the relevant boxes provided.

Provide your numerical answers after rounding them to 2 digits after the decimal point. (Round up if the third digit is 5 or larger, down if it is 4 or smaller, e.g. type 1.78 if your calculation results in 1.783, type 0.04 if it results in 0.038, type 0.10 if it results in 0.101, etc.) However, in order to obtain accurate final answers, do not round numbers during your calculation.

• Compute and type the missing probability, Pr(X = 50), in the space provided in the table. • The expected value of the prize, E(X), is equal to $

• The standard deviation is a measure of absolute risk. For this lottery, it is equal to $

Consider another lottery prize Y that is equal to Y = - 0.1 +0.5X where Xis the prize that we considered above.

• The expected value of the prize, E(Y), is equal to $

• The standard deviation of Y is equal to $

Based on your comparison of the coefficients of variation for X and Y, which lottery is preferred?

The table below shows the probability distribution of a lottery prize X in dollars ($) with Pr(X = x) denoting the probability that the prize is a specific amount $x.

You may use Excel for calculation in answering the questions below.

Provide your numerical answers after rounding them to 2 digits after the decimal point. (Round up if the third digit is 5 or larger, down if it is 4 or smaller, e.g. type 1.78 if your calculation results in 1.783, type 0.04 if it results in 0.038, type 0.10 if it results in 0.101, etc.) However, in order to obtain accurate final answers, do not round numbers during your calculation.

Pr (X =50) = 0.03

EV (X)= $0.50

SD (X) = 9.28

CV (X) = 18.57

EV (Y) = $0.15

SD (Y) = 9.28

CV (Y) = 61.89