In this lab exercise, students will compare and contrast empirical data from a random number generator with the Uniform Distribution.
Class Time:
Names:
Student learning outcomes:
The student will compare and contrast empirical data from a random number generator with the Uniform Distribution.
Collect the data
Use a random number generator to generate 50 values between 0 and 1 (inclusive). List them
below. Round the numbers to 4 decimal places or set the calculator MODE to 4 places.
Complete the table:
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Calculate the following:
1st quartile =
3rd quartile =
Median =
Organize the data
Construct a histogram of the empirical data. Make 8 bars.
Construct a histogram of the empirical data. Make 5 bars.
Describe the data
Describe the shape of each graph. Use 2 – 3 complete sentences. (Keep it simple. Does the
graph go straight across, does it have a V shape, does it have a hump in the middle or at either end,etc.? One way to help you determine a shape, is to roughly draw a smooth curve through the top
of the bars.)
Describe how changing the number of bars might change the shape.
Theoretical distribution
In words,
=
The theoretical distribution of
is
~
. Use it for this part.
In theory, based upon the distribution
~
, complete the following.
1st quartile =
3rd quartile =
median = __________
Are the empirical values (the data) in the section titled "Collect the Data" close to the corresponding theoretical values above? Why or why not?
Plot the data
Construct a box plot of the data. Be sure to use a ruler to scale accurately and draw straight
edges.
Do you notice any potential outliers? If so, which values are they? Either way, numerically
justify your answer. (Recall that any DATA are less than Q1 – 1.5*IQR or more than Q3 +1.5*IQR are potential outliers. IQR means interquartile range.)
Compare the data
For each part below, use a complete sentence to comment on how the value obtained
from the data compares to the theoretical value you expected from the distribution in the section titled "Theoretical Distribution."
minimum value:
1st quartile:
median:
third quartile:
maximum value:
width of IQR:
overall shape:
Based on your comments in the section titled "Collect the Data", how does the box plot fit or not fit what you
would expect of the distribution in the section titled "Theoretical Distribution?"
Discussion question
Suppose that the number of values generated was 500, not 50. How would that affect what you
would expect the empirical data to be and the shape of its graph to look like?
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost
6% more than previous year? Provide with reasoning.
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Good day
How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200.
Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
I am Camara from Guinea west Africa... happy to meet you guys here
Sekou
ma management ho
Amisha
ahile becheclor ho
Amisha
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ani k kaam grnu hunxa tw
Amisha
belatari
Amisha
1st year ho
Amisha
nd u
Amisha
ahh
Amisha
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Amisha
ys
Amisha
kina k vo
Amisha
money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9
no Mpc is greater than 1
Y=100+.9Y+50
Y-.9Y=150
0.1Y/0.1=150/0.1
Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question
If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output?
discuss your answer using appropriate graph.