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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.

  1. Complete the table:
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
  2. Calculate the following:
    • x ¯ = size 12{ {overline {x}} ={}} {}
    • s = size 12{s={}} {}
    • 1st quartile =
    • 3rd quartile =
    • Median =

Organize the data

  1. Construct a histogram of the empirical data. Make 8 bars.
    Blank graph with relative frequency on the vertical axis and X on the horizontal axis.
  2. Construct a histogram of the empirical data. Make 5 bars.
    Blank graph with relative frequency on the vertical axis and X on the horizontal axis.

Describe the data

  1. 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.)
  2. Describe how changing the number of bars might change the shape.

Theoretical distribution

  1. In words, X =
  2. The theoretical distribution of X is X ~ U ( 0 , 1 ) . Use it for this part.
  3. In theory, based upon the distribution X ~ U ( 0 , 1 ) , complete the following.
    • μ =
    • σ =
    • 1st quartile =
    • 3rd quartile =
    • median = __________
  4. 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

  1. Construct a box plot of the data. Be sure to use a ruler to scale accurately and draw straight edges.
  2. 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

  1. 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:
  2. 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

  1. 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?

Questions & Answers

how environment affect demand and supply of commodity ?
Amos Reply
Wht at the criteria for market ?
Amos
what is difference between monitory policy and fiscal policy?
Malik Reply
monetary policy is a policy thrust by National Govt(CBN) to influence government spending, purchase &taxes
Frank
necessity of economics
Pamela Reply
I will say want,choice,opportunity cost,scarcity,scale of preference
Alao
what is monopoly market.How price output are determined under monopoly market
bisham
b) Monopoly market is an impecfect market where s single firm having the innovation to produce a particular commodity.Prices are determined through output since there are no other competitive.
Frank
Monopoly market:firm has market power & does not respond to market price
Frank
Explain the process of price determination under perfect competition market with suitable diagram
bisham Reply
Price determination under perfect competition via this process :firms have no market power to influence price rather firms respond to market price.
Frank
price is different from demand- demand is amount of commodity
Effah Reply
demand is amount /quantity of commodity a potential buyer is willing to buy at a given price at market
Frank
demand is a desire of customer on commodity with the ability to pay it and willing to buy it at given price of commodity
Harika
demand is price of what
Faith Reply
show that shortrun average cost
Baby Reply
what is economics
Mbah Reply
what is money
Mbah
what is money
Mbah
Difine macro economics
agaba
money is a medium of exchange between goods and services,maybe inform of currency.
Wesonga
Economics is study of how human beings strive to satisfy numerous wants using limited available resources.
Wesonga
how do you find the maximum number of workers the firms should employ order to produce where there are increasing returns
Jane
what are implications of computing national income?.
agaba
pl
MUDASIRU
what is the formulae for calculating national income
MUDASIRU
it calculated by value added method
Praveen
classify the production units like agriculture, banking, transport etc
Praveen
money is anything that is generally acceptetable for human
Ogbaji
Estimate the net value added(NVA) at fixed cost by each industrial structure
Praveen
definition of unemployment
Adam Reply
what are the causes of unemployment?
Mbubi Reply
The main causes of unemployment are listed below. 1. Frictional unemployment 2. Cyclical unemployment 3. Structural unemployment
assani
We can also categorize the causes on a broader sense as: 1. Political and 2. Social cause As unemployeement root causes are embaded in this two.
Yonathan
would opportunity cost exist if there was no scarcity?
assani
yes just because the opportunity cost arose when there is Alternative to choose among the alternatives.
BADAMASIU
I am thinking that, if our resources were unlimited, then there wouldn't be any need to forgo some wants. Hence the inexistence if opportunity cost
assani
Politics
Job
politics has done what?
assani
consider time assani
Mary
I'm Emmanuel,...I taught the main cause is the change in gov't.
Emmanuel
...Lack of capital to set up a firm respectively
Emmanuel
🙈
Emmanuel
I would like to bring in Educational levels can also be the cause the cause of the problem respectively
Emmanuel
I think the main causes of unemployment is lack of INFRASTRUCTURAL DEVELOPMENT OVER POPULATION OVER DEPENDENT ON GOVERNMENT LACK OF SELF EMPOWERMENT...
ananti
lack of skills among the new generation is the serious issue.
Vishal
Where I come from , I don't see why education or personal aspects seem to do with unimployment, technically the motivation and eigerness in all works of live is there , dispite the cultural influence and physical bearriors;the thing we lacking is Government Support and open market ethics.
Joe
sorry about that-(repation). We have a over powering ethical political system that's displacing the marketing asspects of economy and causing large scale unemployment right across the board...
Joe
can someone Explain Expansionary Monetary Policy and Contractionary Monetary Policy Using one of the instrument of Monetary Policy? Please am kinda lost here?. ta
Emmanuel Reply
using a graph show the case of substitute and compliment goods
Ade Reply
can anyone give me a simple explanation to Five Sector Macroeconomics?
Emmanuel
Can someone please define what economics is
jason Reply
economics simply is a social science subject that study human behavior.
dajan
economics is a social science which studies human behaviour as a relationship between ends and scarce means that has alternative uses
Alao
Can someone please tell me how to calculate GDP
Emmanuel
emmanual kapal to calculate GDP (Gross Domestic Product) has three method in calculating it (1)income approach (2) expenditure approach (3) value added method
Alao
thanks Alae
Emmanuel
u are welcome
Alao
in basic terms economics is revered to as battery system, it date back to when Men sees the need to exchange sapless goods and produce to gain , either wealth , basic necessities or to establish trading ties for personal benefit or social asspects in terms of coexistence and continuity, future .
Joe
what is the law of demand
Berlinda Reply
keep other thing constant, when the price increases demand decrease when the price decreases demand increases of the commodity.
sj
all things being equal,quantity demanded decrease as price increase and increase as price decrease
Seth
there's practial joke to it ..." the higher the demand ; scarcity, increase in production and drop in quality"... quite the controversy - for example China vs Europe, United States and we are all boxed up in between somewhere...
Joe
Other thing remain constant the low price of commodity the high quantity of commodity and vice versa is true
Baraka
Explain Effective demand
Anita Reply
What is effective demand
Anita
like Modi is in demand...best example of effective demand
Pranav
Don't get you
Anita
Anita you mean you don't get me or who?
Onyeking
level of demand that represents a real intention to purchase by people with the means to pay
Pranav
Difference between extinct and extici spicies
Amanpreet Reply
While the American heart association suggests that meditation might be used in conjunction with more traditional treatments as a way to manage hypertension
Beverly Reply
in a comparison of the stages of meiosis to the stage of mitosis, which stages are unique to meiosis and which stages have the same event in botg meiosis and mitosis
Leah Reply
Researchers demonstrated that the hippocampus functions in memory processing by creating lesions in the hippocampi of rats, which resulted in ________.
Mapo Reply
The formulation of new memories is sometimes called ________, and the process of bringing up old memories is called ________.
Mapo Reply
1 It is estimated that 30% of all drivers have some kind of medical aid in South Africa. What is the probability that in a sample of 10 drivers: 3.1.1 Exactly 4 will have a medical aid. (8) 3.1.2 At least 2 will have a medical aid. (8) 3.1.3 More than 9 will have a medical aid.
Nerisha Reply

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Source:  OpenStax, Collaborative statistics. OpenStax CNX. Jul 03, 2012 Download for free at http://cnx.org/content/col10522/1.40
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