ECON 301 Midterm I Closed book and notes. Calculators are allowed Feb 28th, 2019 12:30pm-1:45pm Instructions: There are two parts in this exam. Part I has three pages. Parts II has five pages. Please inspect the exam and make sure you have all EIGHT pages of questions, ONE page of formulas and ONE page of standard normal distribution table. Do all your work on these pages. If you use the back of a page, make sure to indicate that. If you have to round up an answer, make sure to report TWO decimal digits. Remember : You must show your work to get proper credits. NAME: RED ID: 1 1 Part I: Material Questions (41 Points) 1. Forest Green Brown, Inc., produces bags of cypress mulch. The weight in pounds per bag varies, as indicated in the accompanying table. Weight in pounds 44 45 46 47 48 49 50 Proportion of bags 0.10 0.07 0.21 0.29 0.15 0.10 0.08 (a) (9 points) Calculate the mean of the weight per bag. (b) (9 points) Calculate the standard deviation of the weight per bag. Page 2 2. (12 points) A client has an investment portfolio whose mean value is equal to $1,000,000 with a standard deviation of $30,000. He has asked you to determine the probability that the value of his portfolio is between $970,000 and $1,060,000. Page 3 3. What not to get them on Valentine’s Day! A recent study among adults in the USA shows that adults prefer not to receive certain items as gifts on Valentine’s Day; namely, Teddy bears: 45%; Chocolate: 25%; Jewelry: 15%; Flowers: 12%; Don’t Know: 3%. A Pareto diagram picturing the ”Unwanted Presents” is as shown below. (a) (6 points) If you want to be 80% sure you did not get your valentine something unwanted, what should you avoid buying? How does the Pareto diagram show this? (b) (5 points) 400 adults are to be surveyed, what frequencies would you expect to occur for each un- wanted item listed on the snapshot? Page 4 2 PART II: Essay Questions (59 Points) 1. Individuals living in high-poverty areas perform worse than those living in low-poverty areas on a wide range of outcomes such as earnings, health conditions and education levels. Motivated by such dis- parities, the U.S. Department of Housing and Urban Development (HUD) o↵ered housing vouchers to low-income families. These housing vouchers pay a large portion of the rents and utilities (e.g. Section 8). Image that you are a policy maker trying to evaluate the e↵ectiveness of the housing vouchers. Suppose you are most interested in the long-term impacts of housing vouchers on children who were young when their families received the voucher. (a) (8 points) You want to focus on the impact of housing vouchers on children’s future earnings. Your colleague, another policy maker, suggests you to compare the average future earnings for children whose families received a housing voucher with those whose families didn’t received a housing voucher. Do you think your colleague’s suggestion is a good idea? Why? (b) (8 points) Your economist colleag.

1. ECON 301 Midterm I
Closed book and notes. Calculators are allowed
Feb 28th, 2019
12:30pm-1:45pm
Instructions: There are two parts in this exam. Part I has three
pages. Parts II has five pages. Please
inspect the exam and make sure you have all EIGHT pages of
questions, ONE page of formulas and ONE
page of standard normal distribution table. Do all your work on
these pages. If you use the back of a
page, make sure to indicate that. If you have to round up an
answer, make sure to report TWO decimal
digits.
Remember : You must show your work to get proper credits.
NAME:
RED ID:
1
1 Part I: Material Questions (41 Points)
1. Forest Green Brown, Inc., produces bags of cypress mulch.
The weight in pounds per bag varies, as

2. indicated in the accompanying table.
Weight in pounds 44 45 46 47 48 49 50
Proportion of bags 0.10 0.07 0.21 0.29 0.15 0.10 0.08
(a) (9 points) Calculate the mean of the weight per bag.
(b) (9 points) Calculate the standard deviation of the weight per
bag.
Page 2
2. (12 points) A client has an investment portfolio whose mean
value is equal to $1,000,000 with a standard
deviation of $30,000. He has asked you to determine the
probability that the value of his portfolio is
between $970,000 and $1,060,000.
Page 3
3. What not to get them on Valentine’s Day! A recent study
among adults in the USA shows that adults
prefer not to receive certain items as gifts on Valentine’s Day;
namely, Teddy bears: 45%; Chocolate:
25%; Jewelry: 15%; Flowers: 12%; Don’t Know: 3%. A Pareto
diagram picturing the ”Unwanted
Presents” is as shown below.
(a) (6 points) If you want to be 80% sure you did not get your
valentine something unwanted, what
should you avoid buying? How does the Pareto diagram show
this?

3. (b) (5 points) 400 adults are to be surveyed, what frequencies
would you expect to occur for each un-
wanted item listed on the snapshot?
Page 4
2 PART II: Essay Questions (59 Points)
1. Individuals living in high-poverty areas perform worse than
those living in low-poverty areas on a wide
range of outcomes such as earnings, health conditions and
education levels. Motivated by such dis-
parities, the U.S. Department of Housing and Urban
Development (HUD) o↵ ered housing vouchers to
low-income families. These housing vouchers pay a large
portion of the rents and utilities (e.g. Section
8). Image that you are a policy maker trying to evaluate the
e↵ ectiveness of the housing vouchers.
Suppose you are most interested in the long-term impacts of
housing vouchers on children who were
young when their families received the voucher.
(a) (8 points) You want to focus on the impact of housing
vouchers on children’s future earnings. Your
colleague, another policy maker, suggests you to compare the
average future earnings for children
whose families received a housing voucher with those whose
families didn’t received a housing
voucher. Do you think your colleague’s suggestion is a good
idea? Why?
(b) (8 points) Your economist colleague suggests you to conduct
a randomized experiment, i.e. ran-

4. domly select children from high-poverty areas, flip a coin to
determine who gets a housing voucher
and then follow them 15-20 years to obtain their adult earnings.
Do you think your economist
colleague’s suggestion is a good idea? Why?
Page 5
(c) (6 points) Can we use randomized experiments to solve all
policy related questions? List two limi-
tations of randomized experiments.
In the mid-1990s, HUD conducted the Moving to Opportunity
(MTO) experiment. MTO randomly
selected 4,600 families living in high-poverty (i.e. area poverty
rate is above 40%) public housing
projects and randomly assigned these families to one of the
following three groups:
• The experimental group: received housing vouchers that
subsidized private-market rents and
could initially (for the first year) only be used in census tracts
with 1990 poverty rates below
10 percent
• The Section 8 group: received regular housing vouchers
without any MTO-specific relocation
constraint.
• Control group: received no assistance through MTO.
“Previous research evaluating the MTO experiment has found
that moving to lower-poverty areas
greatly improved the mental health, physical health, and
subjective well being of adults as well as

5. family safety” (Chetty et al 2016). But these studies have found
no impact of MTO on the earnings
and employment status of adults and older youth.
Raj Chetty, Nathaniel Hendren, and Lawrence F. Katz (2016)
study the impacts of MTO on chil-
dren who were young when their families received the housing
voucher. The graphs in the next
page summarize their findings. In each graph, there are three
bars. The bar on the very left shows
the average outcome (e.g. average earnings in panel a) for the
control group. The bar in the middle
shows the average outcome for the Section 8 group and the bar
on the very right shows the average
outcome for the experimental group. The solid black vertical
lines present 95% confidence intervals.
Page 6
(a) Children Below Age 13 at Random Assignment (b) Children
Above Age 13 at Random Assignment
(d) (10 points) For children below 13 at MTO random
assignment, do you observe a statistical dif-
ference in individual earnings between the control group and the
experimental group? What about
between the control group and the Section 8 group? Please
justify your answer.
(e) (10 points) Now focus on children above 13 at MTO random
assignment. Do you observe a sta-
tistical di↵ erence in individual earnings between the control
group and the experimental group?
What about between the control group and the Section 8 group?

6. Please justify your answer.
Page 7
2. Surely one of the biggest news stories of the 2000s was the
housing bubble, the huge run-up in housing
prices followed by a spectacular crash that triggered chaos in
the financial system and a deep recession.
There are several data controversies related to the housing
crisis, including the size of the bubble, how
long it lasted, and whether it could have been foreseen.
Analysis of these issues varies, depending on
how one looks at the data. One way to measure the magnitude of
the bubble, and to assess whether
the market is back to “normal,” is simply to examine the overall
trend in housing prices. But which
measure of housing prices should be used? Standard & Poor’s
Case-Shiller Index and the house price
index produced by the Federal Housing Finance Agency (FHFA)
are two popular measures of housing
prices. More details about the two indices are as follows:
Standard & Poor’s Case-Shiller Index:
• Data are collected from county recorder and assessor o�ces
• Data include all sales transactions, including those financed
with subprime mortgages⇤
• The smallest regions covered are metropolitan areas
FHFA’s Index:
• Data are collected from Fannie Mae and Freddie Mac
• Data include only transactions involving conventional
conforming mortgages†.

7. • The smallest regions covered are metropolitan areas.
Figure 1 illustrates the housing price trends between 2000 and
2011 using the Case-Shiller index (dashed
line) and the FHFA’s index (solid line). The larger the index,
the higher the housing price.
Figure 1: Case-Schiller and FHFA Indices, 2000–2011
Source: Federal Housing Finance Agency price index “Housing
Price Index,” http://www.fhfa.gov/Default.aspx?Page=14; Case-
Shiller
index in Standard and Poor’s, “S&P/Case-Shiller Home Price
Indices,” http://www.standardandpoors.com/indices/sp-
caseshiller-ho-
me-price-indices/en/us/?indexId=spusa-cashpidff--/----p-us/.
⇤A subprime mortgage is a type of mortgage that is normally
issued by a lending institution to borrowers with low credit
ratings.
†A conforming loan is a mortgage loan that conforms to GSE
guidelines. The most well-known guideline is the size of the
loan, which as of 2018 was generally limited to $453,100 for
single family homes in the continental US.
Page 8
(a) (12 points) Please use the information above to explain why
compared to the FHFA’s index, the
Case-Shiller index shows bigger increases in prices before the
housing market crashed (i.e. before

8. 2008) and larger declines after the housing market crashed.
(b) (5 points) Based on the information given in the question,
list one common issue of the two indices.
Page 9
Formulas:
Sample mean of a discrete random variable X:
X
̄ =
nX
i=1
xiP (xi) = x1P (x1) + x2P (x2) + x3P (x3) + ...+ xnP (xn)
where n is number of unique values in X and P (xi) is the
probability that random variable X takes a specific
value xi.
Sample standard deviation of a discrete random variable X:
s =
vuut
nX
i=1
[(xi � X
̄ )2P (xi)] =
q
(x1 � X
̄ )2P (x1) + (x2 � X
̄ )2P (x2) + (x3 � X
̄ )2P (x3) + ...+

9. (xn � X
̄ )2P (xn)
where n is number of unique values in X, P (xi) is the
probability that random variable X takes a specific
value xi, and X
̄ is sample mean.
Transform a normal distribution into a standard normal
distribution:
Z =
X � µ
�
where X follows a normal distribution with mean µ and standard
deviation � and Z follows a standard
normal distribution with mean 0 and standard deviation 1.
If X is a continuous random variable and follows a normal
distribution with mean µ and
standard deviation �, the probability of X between two numbers
a and b is,
P (a < X < b) = P (
a� µ
�
<
X � µ
�
<
b� µ
�

10. ) = P (
a� µ
�
< Z <
b� µ
�
) = F (
b� µ
�
)� F (a� µ
�
)
where F is the cumulative probability function for a standard
normal distribution.
Page 10
Grade
PART I
PART II
Total
Page 11
718
APPENDIX TABLES

11. Table 1 Cumulative Distribution Function, F(z), of the Standard
Normal Distribution Table
F(z)
z0
Z 0 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09
0.0 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279
0.5319 0.5359
0.1 0.5398 0.5438 0.5478 0.5517 0.5557 0.5596 0.5636 0.5675
0.5714 0.5753
0.2 0.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6026 0.6064
0.6103 0.6141
0.3 0.6179 0.6217 0.6255 0.6293 0.6331 0.6368 0.6406 0.6443
0.6480 0.6517
0.4 0.6554 0.6591 0.6628 0.6664 0.6700 0.6736 0.6772 0.6808
0.6844 0.6879
0.5 0.6915 0.6950 0.6985 0.7019 0.7054 0.7088 0.7123 0.7157
0.7190 0.7224
0.6 0.7257 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486
0.7517 0.7549
0.7 0.7580 0.7611 0.7642 0.7673 0.7704 0.7734 0.7764 0.7794
0.7823 0.7852
0.8 0.7881 0.7910 0.7939 0.7967 0.7995 0.8023 0.8051 0.8078
0.8106 0.8133

12. 0.9 0.8159 0.8186 0.8212 0.8238 0.8264 0.8289 0.8315 0.8340
0.8365 0.8389
1.0 0.8413 0.8438 0.8461 0.8485 0.8508 0.8531 0.8554 0.8577
0.8599 0.8621
1.1 0.8643 0.8665 0.8686 0.8708 0.8729 0.8749 0.8770 0.8790
0.8810 0.8830
1.2 0.8849 0.8869 0.8888 0.8907 0.8925 0.8944 0.8962 0.8980
0.8997 0.9015
1.3 0.9032 0.9049 0.9066 0.9082 0.9099 0.9115 0.9131 0.9147
0.9162 0.9177
1.4 0.9192 0.9207 0.9222 0.9236 0.9251 0.9265 0.9279 0.9292
0.9306 0.9319
1.5 0.9332 0.9345 0.9357 0.9370 0.9382 0.9394 0.9406 0.9418
0.9429 0.9441
1.6 0.9452 0.9463 0.9474 0.9484 0.9495 0.9505 0.9515 0.9525
0.9535 0.9545
1.7 0.9554 0.9564 0.9573 0.9582 0.9591 0.9599 0.9608 0.9616
0.9625 0.9633
1.8 0.9641 0.9649 0.9656 0.9664 0.9671 0.9678 0.9686 0.9693
0.9699 0.9706
1.9 0.9713 0.9719 0.9726 0.9732 0.9738 0.9744 0.9750 0.9756
0.9761 0.9767
2.0 0.9772 0.9778 0.9783 0.9788 0.9793 0.9798 0.9803 0.9808
0.9812 0.9817

13. 2.1 0.9821 0.9826 0.9830 0.9834 0.9838 0.9842 0.9846 0.9850
0.9854 0.9857
2.2 0.9861 0.9864 0.9868 0.9871 0.9875 0.9878 0.9881 0.9884
0.9887 0.9890
2.3 0.9893 0.9896 0.9898 0.9901 0.9904 0.9906 0.9909 0.9911
0.9913 0.9916
2.4 0.9918 0.9920 0.9922 0.9925 0.9927 0.9929 0.9931 0.9932
0.9934 0.9936
2.5 0.9938 0.9940 0.9941 0.9943 0.9945 0.9946 0.9948 0.9949
0.9951 0.9952
2.6 0.9953 0.9955 0.9956 0.9957 0.9959 0.9960 0.9961 0.9962
0.9963 0.9964
2.7 0.9965 0.9966 0.9967 0.9968 0.9969 0.9970 0.9971 0.9972
0.9973 0.9974
2.8 0.9974 0.9975 0.9976 0.9977 0.9977 0.9978 0.9979 0.9979
0.9980 0.9981
2.9 0.9981 0.9982 0.9982 0.9983 0.9984 0.9984 0.9985 0.9985
0.9986 0.9986
3.0 0.9987 0.9987 0.9987 0.9988 0.9988 0.9989 0.9989 0.9989
0.9990 0.9990
3.1 0.9990 0.9991 0.9991 0.9991 0.9992 0.9992 0.9992 0.9992
0.9993 0.9993
3.2 0.9993 0.9993 0.9994 0.9994 0.9994 0.9994 0.9994 0.9995
0.9995 0.9995

14. 3.3 0.9995 0.9995 0.9995 0.9996 0.9996 0.9996 0.9996 0.9996
0.9996 0.9997
Dr. William L. Carlson, prepared using Minitab 16.
Part I: Material Questions (55 Points)PART II: Essay Questions
(45 Points)
Assignment Content
1.
Top of Form
Last week you identified a topic and research question for your
Final Paper. This week you will spend some time locating
research sources that will support your argument in that paper.
This assignment will guide you through how to research and
locate your sources.
Review the Develop a Search Strategy page. Be sure to click on
each tab across the top of the page.
Create a list of keywords for your research question using the
guidelines on the Identify Main Concepts & Keywords tab.
Using the keywords you identified, conduct a keyword search
by following these steps:
· Go to the Databases page in the University Library.
· Set results for the last 5 years (review the Choose a Database
tab for guidance).
· Use the strategies from the “Improve Your Results” tab to
narrow your results.
Select at least 3 articles to read. At least 1 of your articles
should be peer-reviewed.
Complete the Library Research Worksheet.
Submit your completed Library Research Worksheet.

15. Bottom of Form
Link:
https://ecampus.phoenix.edu/portal/portal/public/login.aspx
Login:
Jwlinscombe
Password:
[email protected]
Running head: ANIMAL RIGHTS ARGUMENTATIVE 1
ANIMAL RIGHTS ARGUMENTATIVE 3Animal Rights
Argumentative
Jared Linscombe
University of Phoenix
September 30, 2019
ENG/200
Monte Gast
Animal Rights Argumentative
Thesis statement
The animals rights are very important since they are used to
protect the animals, the animals rights prevents them frombeing
killed by human beings. Additonally, it is our main
responsibility to make sure we protect animals. When we kill
animals it is not fair yet they do not do anything that harm us
to an extent of killing them. There are animals right movement,
moreso, the animals right laws and they are supposed to be
adhered to and are called general prohibition.
Just like human beings, the animals have their rights and they
are fit for their survival, the animals are also subject to
existence. They also feel the delight and the agony, they
recollect, they have experience, they foresee, they are able to
learn, additionally what happens to the animals is very vital to
them and different from what happens to the other non-living
creatures. There is an ethical issue that provides the animals

16. with the rights to similar thoughts and delights or satisfactions.
The ethical status of the different creatures shows us that the
scholars comprehended and they have been denying the creature
have the rights that they are supposed to have (Armstrong &
Botzler, 2016). The ethical analysis of the animals and their
rights helps to spread the space and more natural habits for the
animals. Some allies do not see the right that is proved to be
essentially wrong, any more than just giving the lab animals
more of the anesthesia. When this is done in amounts that are
not ideal may cause the situation to become even worse.
Animals have the right to receive the best treatments, the
animals are sometimes done injustice and they are sometimes
hunted for sports which makes their rights to be violated. The
rights that protect the animals should protect them from being
used as testers of cosmetics. The animal's rights are not honored
when their fur is being used for other activities like making
luxury items.
The animals have the right to live in a conducive environment,
most of the time we are the people who destroy the animal's
habitats and they are not able to protect themselves from prey
(Garner, 2016). Most the habitats are destroyed by human
agricultural activities when they fail to take into the interest of
the protection of the animal's rights. Many animal specials are
today endangered since they are always threatened and their
rights assumed.
References
Garner, R. (Ed.). (2016). Animal rights: The changing debate.
Springer.
Armstrong, S. J., & Botzler, R. G. (Eds.). (2016). The animal
ethics reader. Taylor & Francis.
ENG/200 v4
Library Research Worksheet
ENG/200 v4
Page 2 of 2

17. Library Research Worksheet
Using the results from the search you conducted on your topic
and research question, complete the research worksheet
responding with a minimum of 150 words per question
(excluding question 4).
1. Who is the author of your first source (or the title if
unnamed), and why is this work credible? Is this source peer-
reviewed, and how can you tell? Quote or paraphrase something
from the source that relates to your topic. Cite that quotation or
paraphrase using APA style guidelines.
2. Who is the author of your second source (or the title if
unnamed), and why is this work credible? Is this source peer-
reviewed, and how can you tell? Quote or paraphrase something
from the source that relates to your topic. Cite that quotation or
paraphrase using APA style guidelines.
3. Who is the author of your third (or the title if unnamed), and
why is this work credible? Is this source peer-reviewed, and
how can you tell? Quote or paraphrase something from the
source that relates to your topic. Cite that quotation or
paraphrase using APA style guidelines.
4. Create and include the list of references for your sources
provided above. A reference list should be in alphabetical order
by last name. You may use the citation tools from the library or
the Reference and Citation Generator from the Center for
Writing Excellence.
Resources

18. Refer to the following University Library databases for
assistance as you work on your project:
· Academic Search Premier includes peer-reviewed source
material.
· Opposing Viewpoints in Context shares statistics, alternative
viewpoints, articles, and videos an alternating point of view.
· ProQuest is a multidisciplinary research database that includes
a variety of scholarly journals and content.
· Academic Video Online shares documentary and video
materials on various topics.
· Films on Demand includes general studies, social sciences,
business and economics, science, and health-related video
content.
Copyright 2019 by University of Phoenix. All rights reserved.
Copyright 2019 by University of Phoenix. All rights reserved.