Mnote fall2020 245 - formula sheet & test coverage of ECON 245 2020 PDF

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formula sheet & test coverage of ECON 245 2020...

Description

ECON 245

University of Victoria

DESCRIPTIVE STATISTICS & PROBABILITY Arrangements for Midterm Examination Fall Term, 2020

Instructor:

Betty J. J. Johnson (BEC 324, 721-8547 )

Date:

Friday, 2nd October.

Time:

12:30-1:30 pm. (Starting at 12:30 pm. SHARP)

Place:

Tophat Lecture 245.

Material:

The material that is examinable in this test is everything that has been covered in Lectures 1-5. This is in the middle of index numbers. You are required to be able to calculate an index number and perform the tests for a good index number. ____________________.

Weight:

This test carries a weight of 15% in the overall assessment for the course.

Duration:

60 minutes.

Format:

The examination will be based on several compulsory questions, and will be graded out of 25 marks. This grade will then be expressed as a percentage mark for the purpose of combining it with the other marks for the course in arriving at a final overall grade, as described in the original course outline. There will be several types of questions in the examination: (i) (ii) (iii)

Note: (i)

A proof. Index number questions. Several "Problem-Solving/Calculation" questions.

You should bring a calculator to the examination.

(ii)

This is an “open-book”, “open-notes” examination. This requirement will be strictly enforced.

(iii)

You must bring your student identification.

(iv)

A formulae sheet will be supplied and a copy of this sheet appears overleaf.

1

Formulae Central Location:

1 N



Arithmetic mean



(Grouped data

 x  i

x f  1  x f   f N   x w  /  w i

i

i

)

i

i

W

Weighted arithmetic mean

i

G   xi 

1

Geometric mean

i

N

1

  1 H   1     N  xi    2  1  2      xi   N

 

Harmonic mean Dispersion:

i

Population variance (Mean squared deviation)

 1  N

 x   f  2

(Grouped data

2  

Sheppard's correction

c2   2  h 2 12

i

1 2  xi  x   n  ( 1) 1 MAD =   xi   N CV = ( /  )  100 s2 

Sample variance Mean absolute deviation Coefficient of variation Percentiles:

Pk   N  K  / 100

Other Measures:

Skewness coefficient

skew = (  - median) / 

Price Indices:

Laspeyres'

PL0t = [

p

/[

p

Paasche's

PP0t = [

p

/[



Fisher's "ideal" M.E. Price Index:

  P0ME t

 Quantity Indices:

  qi 0  qit    pit   2     qi 0  qit    pi 0  2  

it qi0 ]

it qit ]

i0 qi0 ]

  p i 0  p it       2    pi 0  pit   q i 0  2  

q Q0ME  t

q = [ q

it pi0 ]

Paasche

QP0t

it

Fisher's "ideal"

QF0t = [ QP0t  QL0t ]1/2

Factor Reversal Test:

2

 P01 *



it

 qp] p ] / [ q p ]

QL0t = [

Pt 0)  1

pi0 qit ]

PF0t = [ PP0t  PL0t ]1/2 M.E. Quantity Index

Laspeyres'

Time Reversal test:( P0t *

)

i

/[

it

i0

i0

i0

it

  pi1 qi1  Q01     pi 0qi 0 ...