Answer the following:

25. Intelligence tests can be utilized to identify vocational and educational opportunities. T          F

26. What are drive reduction impulses? ___________________________________________________________________________________________

___________________________________________________________________________________________

27. Human behavior is primarily instinctual. T        F

28. What are gut reactions? _________________________________________________________

___________________________________________________________________________________________

29. Explain the stages of Maslow’s theory of hierarchy:

___________________________________________________________________________________________

___________________________________________________________________________________________

___________________________________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________

30. Men on the average earn less than women on the job. T         F

31. The degree of aggressive behavior between men and women is identical.

T           F

32. There are not any general differences between men and women regarding IQ scores.    T         F

33. A mother who drinks alcohol regularly may possibly give birth to a child with cognitive issues.    T        F

34. One in 10 people in the United states will be infected with a STI at some point or another.    T       F

The U.S. Bureau of Labor Statistics released hourly wage figures for various countries for workers in the manufacturing sector. The hourly wage was $30.67 for Switzerland, $20.20 for Japan, and $23.82 for the U.S. Assume that in all three countries, the standard deviation of hourly labor rates is $3.00.

Appendix A Statistical Tables

a. Suppose 42 manufacturing workers are selected randomly from across Switzerland and asked what their hourly wage is. What is the probability that the sample average will be between $30.00 and $31.00?
b. Suppose 33 manufacturing workers are selected randomly from across Japan. What is the probability that the sample average will exceed $21.00?
c. Suppose 49 manufacturing workers are selected randomly from across the United States. What is the probability that the sample average will be less than $22.80?

1)Suppose that the Fed is fixing the dollar-pound exchange rate at $2.75 = £1. If the Fed's reserve of pounds falls by £100 million, by how much would the supply of dollars increase, all other things equal?

a)275 million

b)500 million

c)0

d)-500 million

2) In 2009, the United States:

a)imported more services than it exported.

b)imported more goods than it exported.

c)traded mainly with developing nations such as Mexico and India.

d)had a small trade surplus in goods and services.

3) You know that (1 + 0.08)³ = 1.26. What is the present value of $126 received in three years if the annual interest rate is 8 percent?

a)$100

b)$10

c)$126

d)$144

Per capita income depends on the savings rate of the country: e.g. countries who save more end up with a higher standard of living. To test this theory, you collect data from the Penn World Tables on GDP per worker relative to the United States (RelProd) in 1990 and the average investment share of GDP from 1980-1990 (SK), remembering that investment equals saving. The regression results (using heteroskedasticity-robust standard errors) are:

RelProd = −0.08 + 2.44 ×SK , R2 = 0.46, SER = 0.21 (0.04) (0.26)

(Q4) Interpret the regression results carefully (including both coefficients and the R2) and Calculate the t-statistics to determine whether the two coefficients are significantly different from zero. Justify the use of a one-sided or two-sided test.

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities. More than a decade ago, high levels of lead in the blood put 83% of children at risk. A concerted effort was made to remove lead from the environment. Now, suppose only 13% of children in the United States are at risk of high blood-lead levels.

(a) In a random sample of 190 children taken more than a decade ago, what is the probability that 50 or more had high blood-lead levels? (Round your answer to three decimal places.)

(b) In a random sample of 190 children taken now, what is the probability that 50 or more have high blood-lead levels? (Round your answer to three decimal places.)

13. The National Institutes of Health funded a study of a random sample of 856 people age 71 and older in the United States. They found that 9.7% of these people suffer from Alzheimer’s Disease.

a.Is .097 (the decimal version of 9.7%) a parameter or a statistic? What symbol do you use to represent 0.097?

b.

First, calculate the lower end of the confidence interval.

Report your answer to three decimals and round appropriately; e.g., 0.xxx (3 points)

c.

Next, calculate the upper end of the interval.

Report your answer to three decimals and round appropriately; e.g., 0.xxx. (1 point)

d. If you were to calculate a 90% confidence interval, would it be wider or narrower than the 95% confidence interval? (1 point)

Since 2007, the American Psychological Association has supported an annual nationwide survey to examine stress across the United States. A total of 360 Millennials (18- to 33-year-olds) were asked to indicate their average stress level (on a 10-point scale) during a month. The mean score was 5.4. Assume that the population standard deviation is 2.3.

(a) Give the margin of error for a 95% confidence interval. (Round your answer to three decimal places.)

Find the 95% confidence interval for this sample. (Round your answers to three decimal places.)

(b) Give the margin of error for a 99% confidence interval. (Round your answer to three decimal places.)

Find the 99% confidence interval for this sample. (Round your answers to three decimal places.)

3. Categories of expenditures Van and Amy Cho live in Swarthmore, PA. Their son, Carlos, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Amy gets a new video camera made in the United States. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Van buys a sweater made in Guatemala. Van's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. Carlos buys a new set of tools to use in his plumbing business.

Answer all questions. Show all of your work. Turn in all relevant computer STATA printouts.

Problem 1 (20 points). Show work

Consider the following regression on the average miles per gallon achieved by a random sample of 500 automobiles:

            MPGi = 20.4 + 2.5 FOREIGNi – 3.1 WEIGHTi + 1.2 (FOREIGNi*WEIGHTi)

Where:

MPGi is the average miles per gallon achieved by the ith car

FOREIGNi is a dummy variable equal to 1 if the ith car is made outside the United States, zero otherwise.

WEIGHTi is the weight of the ith car, in thousands of pounds.

FOREIGNi*WEIGHTi is the interaction between FOREIGN and WEIGHT

a.   Interpret the meaning of the coefficient on FOREIGN*WEIGHT.

      b.   If the weight of a foreign car increases 3000 pounds, what is the change in miles per gallon?

It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.50 6.25 6.75 7.25 7.50 y 9 38 38 50 72 What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares line?

Select one:

a. 89.9%

b. 10.1%

c. 94.8%

d. 0.3%

e. 1.0%