The student will demonstrate and compare properties of the Central Limit Theorem.
This lab works best when sampling from several classes and combining data.
Collect the data
Count the change in your pocket. (Do not include bills.)
Randomly survey 30 classmates. Record the values of the change.
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
Construct a histogram. Make 5 - 6 intervals. Sketch the graph using a ruler and pencil. Scale
the axes.
Calculate the following (
; surveying one person at a time):
=
=
Draw a smooth curve through the tops of the bars of the histogram. Use 1 – 2 complete
sentences to describe the general shape of the curve.
Collecting averages of pairs
Repeat steps 1 - 5 (of the section above titled "Collect the Data") with one exception. Instead of recording the change of 30
classmates, record the average change of 30 pairs.
Randomly survey 30
pairs of classmates. Record the values of the average of their change.
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
Construct a histogram. Scale the axes using the same scaling you did for the section titled "Collecting the Data". Sketch thegraph using a ruler and a pencil.
Calculate the following (
; surveying two people at a time):
=
=
Draw a smooth curve through tops of the bars of the histogram. Use 1 – 2 complete sentences
to describe the general shape of the curve.
Collecting averages of groups of five
Repeat steps 1 – 5 (of the section titled "Collect the Data") with one exception. Instead of recording the change of 30
classmates, record the average change of 30 groups of 5.
Randomly survey 30
groups of 5 classmates. Record the values of the average of their
change.
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
__________
Construct a histogram. Scale the axes using the same scaling you did for the section titled "Collect the Data". Sketch the
graph using a ruler and a pencil.
Calculate the following (
; surveying five people at a time):
=
=
Draw a smooth curve through tops of the bars of the histogram. Use 1 – 2 complete sentences
to describe the general shape of the curve.
Discussion questions
As
changed, why did the shape of the distribution of the data change? Use 1 – 2 complete sentences to explain what happened.
In the section titled "Collect the Data", what was the approximate distribution of the data?
~
In the section titled "Collecting Averages of Groups of Five", what was the approximate distribution of the averages?
~
In 1 – 2 complete sentences, explain any differences in your answers to the previous two questions.
Questions & Answers
Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from
Qd 120 3P
to
Qd 90 3P
and the supply function has shifted from
QS
20 2P
to
QS
10 2P .
a) Find the effect of this change on price and quantity.
b) Which of the changes in demand and supply is higher?
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
Got questions? Join the online conversation and get instant answers!