Kean University Applied Economics Questions

Econ 390
Midterm 1
Late submissions are not accepted. Mistakes in submissions are not accepted
RULE: you can collaborate similar to assignments; one person submits on behalf of the team.
ONLY one submission per group. but if you collaborate (EVEN IN 1 QUESTION) and do not
inform me your score is 0.
”
“#
”
“#
Q1. (15/100) Show that ∑”#
!$%#”??! + 3?! + ?) = ? ∑!$%# ?! + 3 ∑!$%# ?! + 11? .
Q2. (15/100) If ?~? (4,16) then find ?(? ≥ 1.5).
Q3. (10/100) You take the Econometrics exam and score 100. The mean score for the test is 95 and the standard deviation is 5.
If we assume the distribution of Econometrics score is normal, how well did you score on the test other test takers? (calculate
your z-score first and find what percent of the test takers scored below you)
Q4. It is believed that the average US households’ spending on food is 40 dollars per day. Suppose you recently take a random
i.i.d. sample of 81 households in the US and the result revealed a mean of 38 dollars per day with the standard deviation of 3
dollars.
a.
(15/100) Can it be concluded that the average dollars spent per day by U.S. households has changed? (please
provide 2 approached both the “T-test (Zscore)” and “P-value” approach. (You should write down the null,
alternative, formulas, and provide your p-value on the z graph.)
b.
(10/100) Create the 95 % Confidence Interval for the population mean using the information above? (Do not
forget the complete formula of the interval)
Q5. Open the data “TeachingRatings” and read the description, both are attached to this midterm exam:
a.
b.
c.
d.
e.
f.
g.
(5/100) What is “Course_eval” variable.
(5/100) How many variables and how many observations does this data include?
(5/100) What is “Beauty” variable? What is the unit of this variable?
(5/100) Provide a histogram for age. Please change the bin width, and do not rely on the default histogram and bins.
The bin width must be chosen to be informative. After creating the plot, add data labels, and report what is the range
of age in the first bin you created, and how many observations will fall in your first bin.
(5/100) Provide a scatterplot in which Course_eval is the dependent variable and Beauty is the independent variable.
(5/100) Do you see any linear association in the previous plot?
(5/100) Find the correlation value, what does this number mean?
Econ 390
Midterm 1
Late submissions are not accepted. Mistakes in submissions are not accepted
RULE: you can collaborate similar to assignments; one person submits on behalf of the team.
ONLY one submission per group. but if you collaborate (EVEN IN 1 QUESTION) and do not
inform me your score is 0.
minority
age
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onecredit beauty
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3
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4
3,5
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3
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3
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0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
47
47
47
62
62
60
60
60
60
60
60
60
42
42
42
42
35
35
35
39
39
39
49
49
61
61
61
33
33
56
56
50
50
50
50
50
50
52
52
52
52
52
52
52
52
52
52
52
52
33
33
33
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1,05211
-1,05211
-1,05211
-0,72777
-0,72777
-0,3954
-0,3954
-0,3954
-0,3954
-0,3954
-0,3954
-0,3954
-0,23778
-0,23778
-0,23778
-0,23778
0,274908
0,274908
0,274908
1,970023
1,970023
1,970023
1,05095
1,05095
0,241819
0,241819
0,241819
1,349395
1,349395
-0,25773
-0,25773
-0,65627
-0,65627
-0,65627
-0,65627
-0,65627
-0,65627
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
-0,65639
0,724478
0,724478
0,724478
3,8
3,5
3,3
4,3
4,1
4,5
4,5
4,6
4,4
4,1
4,5
4,3
4,4
4,9
4,7
4,6
4,8
4,2
4,6
4,7
4,6
3,6
3,9
4
4,4
4,5
4,4
3
3,7
3,6
3,1
3,8
4,7
3,8
3,8
2,8
4
4
3,5
3,4
4
3,5
3,8
4,7
3,9
4,5
4,2
4,7
4
4,8
4,8
4,4
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
1
0
1
0
0
1
0
0
0
1
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
33
33
57
57
57
38
38
38
38
38
38
34
34
34
34
34
34
34
32
32
32
32
42
43
43
43
43
43
43
43
43
43
35
62
62
52
52
52
52
52
52
52
52
52
64
64
64
64
64
50
60
60
1
1
0
0
0
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0,724478
0,724478
0,631834
0,631834
0,631834
1,070944
1,070944
1,070944
1,070944
1,070944
1,070944
-1,45049
-1,45049
-1,45049
-1,45049
-1,45049
1,15588
1,15588
-0,32601
-0,32601
-0,32601
-0,32601
0,884644
-0,55835
-0,55835
-0,55835
-0,55835
-0,55835
-0,55835
-0,55835
-0,55835
-0,55835
-0,34155
-0,50406
-0,50406
0,773524
1,063938
1,063938
-1,09039
-1,09039
-1,09039
-1,09039
-1,09039
-1,09039
-1,06916
-1,06916
-1,06916
-1,06916
-1,06916
1,415695
-1,42292
-1,42292
4,7
4,5
4,2
4,4
4,1
4,2
4,8
4,4
4,7
4,2
4,5
3,4
3,7
3,6
3,9
3,9
3,7
3
3,6
3,6
4,3
4,5
3,9
4,6
4,1
4,2
4,1
3,1
3,6
4,2
3
4,2
3,4
3,1
2,7
3,9
3,9
3,6
3,7
3,6
4,4
4,3
4,1
3,7
3,6
2,8
4
4,4
3,6
3,7
2,9
2,6
0
0
0
0
0
1
0
0
0
1
0
1
1
0
0
0
0
1
1
1
0
0
0
0
1
1
1
1
1
0
1
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
43
43
43
43
43
43
43
43
50
50
50
50
50
50
50
50
50
52
52
52
52
52
51
51
51
51
38
38
38
47
43
38
38
38
38
38
43
43
43
57
57
51
51
51
45
45
45
57
57
57
57
57
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
1
0
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
1
1
0
0
1
1
1
0
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
1
0
0
0
0
0
-0,48996
-0,48996
-0,48996
-0,48996
-0,48996
-0,48996
-0,48996
-0,48996
-0,58359
-0,58359
-0,58359
-0,58359
-0,58359
-0,58359
-0,58359
-0,58359
-0,58359
0,756683
0,756683
0,756683
0,756683
0,756683
0,880819
0,880819
0,880819
0,880819
-0,5665
-0,5665
-0,5665
0,339404
-0,15137
-1,025
-1,025
-1,025
-1,025
-1,025
-0,02524
-0,02524
-0,02524
-0,74679
-0,74679
0,988949
0,988949
0,988949
-0,53242
-0,53242
-0,53242
-0,76689
-0,76689
-0,76689
-0,76689
-0,76689
4,8
4,9
4,3
4,4
4,3
4,7
4,3
4,6
4,9
4,8
4,7
4,8
4,9
4,8
4,8
5
4,5
3,8
3,8
3,8
4
4,2
4,5
4,5
4,6
4,7
4,1
3,6
4
3,4
2,8
4,1
3,5
3,4
4,1
4,2
4,3
4,1
3,4
3,5
3,6
3,7
3
4,6
4
4,8
4,6
3,4
4,4
3,6
3,8
3,7
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
57
57
57
57
57
47
47
47
47
54
54
54
54
58
58
58
58
58
58
58
42
42
33
62
62
62
62
62
62
35
35
61
52
52
60
60
60
60
60
60
32
32
32
32
32
42
42
42
0
0
0
0
0
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
1
1
1
1
1
1
1
1
0
0
0
0
0
1
1
1
0
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
-0,76689
-0,76689
-0,76689
-0,76689
-0,76689
1,154256
1,154256
1,154256
1,154256
1,232602
1,232602
1,232602
1,232602
1,774334
1,774334
1,774334
1,774334
1,774334
1,774334
1,774334
1,773151
1,773151
0,724593
-1,18163
-1,18163
-1,18163
-1,18163
-1,18163
-1,18163
1,769452
1,769452
-0,58726
-0,00183
-0,00183
-0,05668
-0,05668
-0,05668
-0,05668
-0,05668
-0,05668
1,231394
1,231394
1,231394
1,231394
1,231394
0,4204
0,4204
0,4204
4,7
4,5
5
3,8
4,1
4,3
4,4
4,7
3,9
4,8
4,3
4,6
3,8
5
4,9
4,6
4,6
5
4,6
4,9
4
3,9
4,1
2,9
2,8
2,8
4
3,3
3
3,6
3,8
3,9
4,7
4,7
3,9
4,4
3,6
4,2
3,4
4
4,2
4,4
4,5
3,2
4,3
3,3
3,2
4,1
1
1
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
0
1
1
1
1
1
1
1
0
0
0
0
0
0
1
0
1
1
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
0
0
0
0
0
1
1
1
Documentation for TeachingRatings Data
TeachingRatings contains data on course evaluations, course characteristics, and professor
characteristics for 463 courses for the academic years 2000-2002 at the University of Texas at
Austin. These data were provided by Professor Daniel Hamermesh of the University of Texas at
Austin and were used in his paper with Amy Parker, “Beauty in the Classroom: Instructors’
Pulchritude and Putative Pedagogical Productivity,” Economics of Education Review, August
2005, Vol. 24, No. 4, pp. 369-376.
Variable Definitions
Variable
Definition
Course_eval “Course overall” teaching evaluation score, on a scale of 1 (very unsatisfactory) to
5 (excellent)
Rating of instructor physical appearance by a panel of six students, averaged across
Beauty
the six panelists, shifted to have mean zero.
Female
1 if the instructor is female

0 if the instructor is male
Minority
1 if the instructor is a non-White

0 if the instructor is White
NNenglish
1 if the instructor is not a native English speaker

0 if the instructor is a native English speaker
intro
1 if the course is introductory (mainly large Freshman and Sophomore courses)

0 if the course is not introductory
onecredit
1 if the course is a single-credit elective (yoga, aerobics, dance, etc.)

0 otherwise
Professor’s age
age
minority
1
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
1
0
0
0
0
0
0
1
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
age
36
59
51
40
31
62
33
51
33
47
35
37
42
49
37
45
56
48
46
57
52
29
62
64
34
58
52
73
70
41
63
47
39
47
54
44
47
62
60
37
42
35
39
49
61
33
58
56
50
52
33
female
1
0
0
1
1
0
1
1
1
0
0
0
0
0
1
0
1
0
1
1
1
1
0
0
1
0
0
0
0
1
0
0
0
1
0
1
0
0
0
0
0
0
1
0
0
0
1
1
1
0
1
onecredit beauty
course_evaintro
0 0.289916
4.3
0 -0.73773
4.5
0 -0.57198
3.7
0 -0.67796
4.3
0 1.509794
4.4
0 0.588569
4.2
0
-0.126
4
0 -0.25819
3.4
0 0.149693
4.5
0 0.540917
3.9
0 0.231613
3.1
0 -0.06667
4
0 0.216892
3.8
0
-0.2587
3.4
0 0.550288
2.9
0 -0.06204
4.5
0 -0.98239
4
0 -0.05434
3.8
0 -0.06801
4.3
0 0.029414
3.4
0 0.239486
3.4
0 -0.84873
3.3
0 -0.73309
4.3
0 -0.11112
4.4
0 1.775517
4.6
0 -0.32185
4.2
0 0.211694
4
0 -0.71765
3.3
0 -0.73269
4.4
0 0.408168
2.3
0 -0.01021
3.5
0 -0.92396
4.7
0 0.576681
3.9
-0.0836
4
0
0 -1.07956
4.3
0 1.040902
3.8
0 -1.05211
3.8
0 -0.72777
4
0
-0.3954
4.6
0 0.933396
3.5
0 -0.23778
4.7
0 0.274908
4.2
0 1.970023
3.4
0 1.05095
3.9
0 0.241819
4.5
0 1.349395
4.7
0 0.111564
3.5
0 -0.25773
3.7
0 -0.65627
4
0 -0.65639
4.1
0 0.724478
4.4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
0
0
0
0
0
0
0
0
1
0
1
0
0
0
1
0
0
nnenglish
0
0
0
0
0
0
0
0
0
0
1
0
0
1
0
0
0
0
0
0
0
1
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
1
0
0
0
0
0
0
0
1
0
0
0
0
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4.7
4.5
4.2
4.4
4.1
4.2
4.8
4.4
4.7
4.2
4.5
3.4
3.7
3.6
3.9
3.9
3.7
3
3.6
3.6
4.3
4.5
3.9
4.6
4.1
4.2
4.1
3.1
3.6
4.2
3
4.2
3.4
3.1
2.7
3.9
3.9
3.6
3.7
3.6
4.4
4.3
4.1
3.7
3.6
2.8
4
4.4
3.6
3.7
2.9
2.6
0
0
0
0
0
1
0
0
0
1
0
1
1
0
0
0
0
1
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1
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1
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1
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43
43
43
43
43
43
43
43
50
50
50
50
50
50
50
50
50
52
52
52
52
52
51
51
51
51
38
38
38
47
43
38
38
38
38
38
43
43
43
57
57
51
51
51
45
45
45
57
57
57
57
57
0
0
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1
1
0
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1
1
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0
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0.756683
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0.880819
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4.8
4.9
4.3
4.4
4.3
4.7
4.3
4.6
4.9
4.8
4.7
4.8
4.9
4.8
4.8
5
4.5
3.8
3.8
3.8
4
4.2
4.5
4.5
4.6
4.7
4.1
3.6
4
3.4
2.8
4.1
3.5
3.4
4.1
4.2
4.3
4.1
3.4
3.5
3.6
3.7
3
4.6
4
4.8
4.6
3.4
4.4
3.6
3.8
3.7
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
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1
1
1
1
1
1
1
1
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1
1
1
1
0
0
0
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0
0
0
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0
0
0
0
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
57
57
57
57
57
47
47
47
47
54
54
54
54
58
58
58
58
58
58
58
42
42
33
62
62
62
62
62
62
35
35
61
52
52
60
60
60
60
60
60
32
32
32
32
32
42
42
42
0
0
0
0
0
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
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0
0
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0
0
0
1
1
0
1
1
1
1
1
1
1
1
0
0
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1
1
0
0
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1
1
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1
-0.76689
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1.154256
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1.154256
1.154256
1.232602
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1.232602
1.232602
1.774334
1.774334
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1.774334
1.774334
1.774334
1.774334
1.773151
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0.724593
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1.769452
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1.231394
1.231394
1.231394
1.231394
1.231394
0.4204
0.4204
0.4204
4.7
4.5
5
3.8
4.1
4.3
4.4
4.7
3.9
4.8
4.3
4.6
3.8
5
4.9
4.6
4.6
5
4.6
4.9
4
3.9
4.1
2.9
2.8
2.8
4
3.3
3
3.6
3.8
3.9
4.7
4.7
3.9
4.4
3.6
4.2
3.4
4
4.2
4.4
4.5
3.2
4.3
3.3
3.2
4.1
1
1
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
1
1
1
1
0
1
1
1
1
1
1
1
0
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1
1
1
1
1
1
0
0
0
0
0
1
1
1

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