PRINCIPLES OF ECONOMETRICS 5TH EDITION
PRINCIPLES OF ECONOMETRICS5TH EDITIONANSWERS TO ODD-NUMBEREDEXERCISES IN THE PROBABILITYPRIMER1
Probability Primer, Exercise Answers, Principles of Econometrics, 5eEXERCISE P.1(a) i 1 i(b) t 1(c)x 6(d) i 1 ( xi x ) 0 .(e) i 1 ( xi x )(f)( (g) i 1 ( xi x )( yi y ) 3(h) 2x 183xt yt 873332i 1 i2 182)x 3 x 2 18233j 1x j y j 3x y 3 .EXERCISE P.3(a) i 1 ( a bxi ) 3a b i 1 xi(b) t 1 t 2 30(c) x 0 ( 2 x 2 3x 1) 22(d) f ( x 3) f ( 5 ) f ( 6 ) f ( 7 )33424x 2(e)3 f ( x, y ) f (1, y ) f ( 2, y ) f ( 3, y )x 14(f)2 ( x 2 y ) 26x 3 y 1EXERCISE P.5(a)P ( SALES 60000 ) 0.0475(b)P ( 40000 SALES 55000 ) 0.7492(c)SALES0.97 61, 280(d)P ( PROFITS 0 ) 0.0475Copyright 2018 Wiley2
Probability Primer, Exercise Answers, Principles of Econometrics, 5e3EXERCISE P.7(a)E ( SALES ) 25200 cans(b)var ( SALES ) 1,000,000 cans 2(c)P ( SALES 24000 ) 0.8849(d)PRICE0.95 231.55 cents .EXERCISE P.9(a)The marginal distributions arePolitical .150.40War Attitudeagainstneutralin favorProbability0.450.250.30(b)P ( INDEPENDENT IN FAVOR ) 0.167(c)They are not independent. For example(d)E (WAR ) 1.85 ; var (WAR ) 0.7275(e)E ( CONTRIBUTIONS ) 13.7P ( DEMOCRAT and IN FAVOR ) 0 P ( DEMOCRAT ) P ( IN FAVOR ) 0.12standard deviation ( CONTRIBUTIONS ) 1.71EXERCISE P.11(a)(b)P (VOTE 1 and PARTY 1) 0.3104No, they are not statistically independent. For example,P (VOTE 1 and PARTY 1) 0.3104 P (VOTE 1 ) P ( PARTY 1) 0.14912EXERCISE P.13(a)C 1C 0f(w)W 00.060.070.13W 10.120.140.26Copyright 2018 WileyW 20.120.490.61f(c)0.30.7
Probability Primer, Exercise Answers, Principles of Econometrics, 5e(b)wf(w C 0)00.110.220.7The conditional distribution f(w C 0) is not the same as f(w), therefore the two randomvariables W and C are not statistically independent.(c)E (W ) 1.48E (W C 0 ) 1.6E (W C 1) 1.2The LSU Tigers have a higher expected number of wins when the weather is not cold.(d)E ( FOOD ) 9,100standard deviation ( FOOD ) 1374.77EXERCISE P.15(a)X(b) .250.55E(X ) 7The expected winnings are positive, so based on this criterion you should take the bet.(c)Xf(x Y 1) 20001/4203/4(d)E ( X Y 1) 15(e)E ( X ) EY E ( X Y ) E ( X Y 0 ) fY ( 0 ) E ( X Y 1) fY (1) 5 ( 0.4 ) 15 ( 0.6 ) 7EXERCISE P.17(a)Copyright 2018 Wiley4
Probability Primer, Exercise Answers, Principles of Econometrics, 5e(b)F ( y ) y2(c)P (Y 1 / 2 ) bh / 2 (1 / 2 ) 1 / 2 1 / 4(d)P (Y 1 / 2 ) F (1 / 2 ) (1 / 2 ) 1 / 42(e)(f)P (1/ 4 Y 3 / 4 ) F ( 3 / 4 ) F (1/ 4 ) ( 3 / 4 ) (1/ 4 ) 1/ 22EXERCISE P.19(a)E ( Z ) ( 3/ 2) μ(b)var ( Z ) ( 5 / 4 ) σ2(c)var ( Z ) ( 3 / 4 ) σ2(d)corr ( aX , bY ) ρ XY 0.5Copyright 2018 Wiley25
Probability Primer, Exercise Answers, Principles of Econometrics, 5eEXERCISE P.21(a)E (Y ) 3.5E (Y 2 ) 15.1667var (Y ) 2.91667(b)01/2xf(x)E(X ) 221/6E ( X 2 ) 9.33341/661/6var ( X ) 5.333(c)yf(y x 0)f(y x 2)f(y x 4)f(y x 6)(d)E (Y X 0 ) 311/30002010031/3000E (Y X 2 ) 24001051/3000E (Y X 4 ) 460001E (Y X 6 ) 6(e)z xyf(z)01/241/6161/6361/6E ( Z ) 28 / 3 E ( X 2 )(f)cov ( X ,Y ) 2.333EXERCISE P.23(a)NKIDS is a discrete random variable that takes on a “countable” number of values.(b) and (c)The pdf and cdf for NKIDS up to NKIDS 4 are given in the following table and 070.676730.18040.857140.09020.9473Copyright 2018 Wiley6
Probability Primer, Exercise Answers, Principles of Econometrics, 5epdf f(nkids) and cdf F(nkids) for NKIDS(d)P ( NKIDS 1) 0.594(e)P ( NKIDS 2) 0.6767EXERCISE P.25(a)P (T 1) 0.149P(T 4) 0.168(b)P (Y 1 T 4) 0.0036(c)P [Y 3, T 4] 0.049(d)P(T 4 Y 3) 0.222Copyright 2018 Wiley7
PRINCIPLES OF ECONOMETRICS 5TH EDITION ANSWERS TO ODD-NUMBERED EXERCISES IN THE PROBABILITY PRIMER . Probability Primer, Exercise Answers, Principles of Econometrics, 5e 2 . NKIDS pdf cdf 0 0.1353 0.1353 1 0.2707
1.1 USING EVIEWS FOR PRINCIPLES OF ECONOMETRICS, 5E This manual is a supplement to the textbook Principles of Econometrics, 5th edition, by Hill, Griffiths and Lim (John Wiley & Sons, Inc., 2018). It is not in itself an econometrics book, nor is it a complete computer manual. Rather it is a step-by-step guide to using EViews 10
Harmless Econometrics is more advanced. 2. Introduction to Econometrics by Stock and Watson. This textbook is at a slightly lower level to Introductory Econometrics by Wooldridge. STATA 3. Microeconometrics Using Stata: Revised Edition by Cameron and Trivedi. An in-depth overview of econometrics with STATA. 4. Statistics with STATA by Hamilton .
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