ECON 2370 University of Houston Economic Data Analysis Excel Worksheet Out of 100 points. Turn in one pdf file. Other file formats will not be accepted. An

ECON 2370 University of Houston Economic Data Analysis Excel Worksheet Out of 100 points.
Turn in one pdf file. Other file formats will not be accepted.
Answer all questions inside this document and in the same order. Questions answered out of order will not be graded. All questions should appear in the homework.
Copy&Paste Excel tables/graphs below each question. You will need to delete blank lines as you do this. Be careful not to delete any questions or change the format of the number list.
There is a penalty for up to 10 points for not following any of the instructions above.

1.Given that z is a standard normal random variable, compute the following probabilities. (Draw the graph in a paper with numbers going from -3 to +3. No need to draw it here for credit. But do it for your own learnig.)

a.P(0 ? z ? .83)

b.P(-1.57 ? z ? 0)

c.P(z > 0.44)

d.P(z > 0.23)

e.P(z < 1.20) P(z ? 0.71) 2.Given that z is a standard normal random variable, find z for each situation. (Draw the graph in a paper with numbers going from -3 to +3. No need to draw it here for credit. But do it for your own learning.) a.The area to the left of z is 0.025 b.The area to the right of z is 0.975. c.The area to the right of z is 0.025. The area to the left of z is .6700. What is the first quartile (the 25% percentile) of X? 3.Suppose X it a normally distributed random variable with mean of 328 and standard deviation of 92. a.What is the z-score of X=500? b.What is the z-score of X=250? 4.In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service. a.What is the probability that the cost will be more than $500? b.What is the probability that the cost will be less than $250? c.What is the probability that the cost will be between $300 and $400? If the cost to a patient is in the lower 8% of charges the cost of this patient’s emergency room visits? ECON 2370 Homework 1 due Monday July 20, 2020 • • • Out of 100 points. Turn in one pdf file. Other file formats will not be accepted. Answer all questions inside this document and in the same order. Questions answered out of order will not be graded. All questions should appear in the homework. Copy&Paste Excel tables/graphs below each question. You will need to delete blank lines as you do this. Be careful not to delete any questions or change the format of the number list. There is a penalty for up to 10 points for not following any of the instructions above. • • 1. Given that z is a standard normal random variable, compute the following probabilities. (Draw the graph in a paper with numbers going from -3 to +3. No need to draw it here for credit. But do it for your own learnig.) a. P(0 ? z ? .83) b. P(-1.57 ? z ? 0) c. P(z > 0.44)
d.
P(z > 0.23)
e.
P(z < 1.20) f. P(z ? 0.71) 2. 3. Given that z is a standard normal random variable, find z for each situation. (Draw the graph in a paper with numbers going from -3 to +3. No need to draw it here for credit. But do it for your own learning.) a. The area to the left of z is 0.025 b. The area to the right of z is 0.975. c. The area to the right of z is 0.025. d. The area to the left of z is .6700. Suppose X it a normally distributed random variable with mean of 328 and standard deviation of 92. a. What is the z-score of X=500? b. What is the z-score of X=250? c. What is the first quartile (the 25% percentile) of X? 4. In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service. a. What is the probability that the cost will be more than $500? b. What is the probability that the cost will be less than $250? c. What is the probability that the cost will be between $300 and $400? d. If the cost to a patient is in the lower 8% of charges the cost of this patient’s emergency room visits? Purchase answer to see full attachment