Ask Econometrics Expert

The average credit card debt for college seniors is $3262. If thedebt is normally distributed with a standard deviation of $1100,find these probabilities.
a) That the senior owes at least $1000

b) That the senior owes more than $4000

c) That the senior owes between $3000 and$4000

 

The average waiting time to be seated for dinner at a popularrestaurant is 23.5 minutes, with a standard deviation of 3.6minutes. Assume the variable is normally distributed. When a patronarrives at the restaurant for dinner, find the probability that thepatron will have to wait the following time.

a) Between 15 and 22 minutes

b) Less than 18 minutes or more than 25 minutes

c) Is it likely that a person will be seated in lessthan 15 minutes?

The average price of a personal computer (PC) is $949. If thecomputer prices are approximately normally distributed andσ=100, what is the probability that a randomly selected PC costs more than $1200? The least expensive 10% of personal computers cost less than what amount?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9812661

Have any Question?


Related Questions in Econometrics

Monte carlo exercisein order to illustrate the sampling

Monte Carlo Exercise In order to illustrate the sampling theory for the least squares estimator, we will perform a Monte Carlo experiment based on the following statistical model and the attached design matrix y = Xβ + e ...

Economics and quantitative analysis linear regression

Economics and Quantitative Analysis Linear Regression Report Assignment - Background - In your role as an economic analyst, you have been asked the following question: how much does education influence wages? The Excel d ...

Basic econometrics research report group assignment -this

Basic Econometrics Research Report Group Assignment - This assignment uses data from the BUPA health insurance call centre. Each observation includes data from one call to the call centre. The variables describe several ...

Question - consider the following regression model for i 1

Question - Consider the following regression model for i = 1, ..., N: Yi = β1*X1i + β2*X2i + ui Note that there is no intercept in this model (so it is assumed that β0 = 0). a) Write down the least squares function minim ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As