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Quiz 1 - 3 Questions on Economic Forecasting | ECO 309, Quizzes of Economics

Material Type: Quiz; Professor: Ogunc; Class: Economic Forecasting; Subject: Economics - ECO; University: Texas A & M University-Commerce; Term: Unknown 1989;

Typology: Quizzes

Pre 2010

Uploaded on 08/16/2009

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Economic Forecasting
ECO 309
Fall 2005
QUIZ 1
September 15, 2005
NAME_____________________________________________
SSN_______________________________________________
QUESTIONS:
1.We want to forecast if the mean number if absent
days per year has increased from last year or not. A
year ago, the mean was 12.1. A recent sample of 100
employees has a sample mean of 13.5 with a sample
standard error of 1.7 days. Determine if the
population mean has increased at 5% significance
level.
2. Based on past experience California Power
Company forecasts that the mean electricity usage
per household is 700kwh next January. In January,
the company samples 50 households and computes
a mean and standard error of 715 and 50,
pf2

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Economic Forecasting

ECO 309

Fall 2005

QUIZ 1

September 15, 2005

NAME_____________________________________________ SSN_______________________________________________ QUESTIONS:

1. We want to forecast if the mean number if absent days per year has increased from last year or not. A year ago, the mean was 12.1. A recent sample of 100 employees has a sample mean of 13.5 with a sample standard error of 1.7 days. Determine if the population mean has increased at 5% significance level. 2. Based on past experience California Power Company forecasts that the mean electricity usage per household is 700kwh next January. In January, the company samples 50 households and computes a mean and standard error of 715 and 50,

respectively. Test at 5% significance level to determine if the sample mean is significantly different than the forecast. Find the p-value.

  1. Tell me about your project: (a) What is your variable? (b) What kind of data? (c) Where did you get your data from? (d) What other variables are you planning to use to help explain your main variable?