Homework #12 clarification

The homework assignment that was distributed in class on Thursday has a due date of Thursday November 15. The actual due date is Tuesday, November 27. (The document was originally intended to be assigned on Tuesday the 13th but was delayed. However, it had already been printed.)

Test 3 results and updated grades

The descriptive statistics from Test #3:

average = 22.9 out of 40 (57.2%)
median = 22.5 (56.25%)
mode = 24.5 (61.25%)
stdev = 5.75 (14.4%) (the standard deviation is rather large--10% is the target).

Use the following grade scale as a guide for evaluating your performance (based on raw scores out of 40 points):

A: 28.5 +
B: 22.5 - 28
C: 17.5 - 22
D: 12 - 17
F: 11.5 and below

Updated grades:

The red number on your score sheet is the weighted average of total points earned up to this point of the semester, including this test. There are a total of 67 possible points so far.

Convert your points (in red) to a percent by

(your points)
-------------- x 100 = percent score at 3/4 th point in the term
67 points

The overall class average is 72.63% with a median value of 72.20%.

Use the grade scale below to evaluate your midterm score:

A: 84% +
B: 72.5% - 83.9%
C: 61.5% - 72.49%
D: 50.1% - 61.49%
F: 50% and below

Instructor's comment: It appears that many people in the class are doing well. The number of people in the A/B range is greater than the number of people in the C/D/F range.

To those who are doing well: keep up the good work.

To those who are struggling: take measures to improve your performance. You should come to class with regularity. Try to do the homework and not just hope you can come into class and complete it by writing down what we go over. You're not likely truly learning anything. You're just getting points (in an academically dishonest manner, I might add). The truth is revealed by your performance on the test. Moreover, this is NOT a class where you study by reviewing your notes for an hour or so before the test. You should spend several hours studying. Yes, several hours. This includes working through the sample multiple choice problems. This includes going over your past homeworks. This includes reading the text. You just can't slack your way through economics and expect an A or B. For most of us those grades are earned by having an interest in the material and spending time learning the material.

If you think you are spending a lot of time studying but your performance is not as expected, you should discuss this with the instructor. You will be advised on measures you can take to improve your study skills.

Good luck with the remainder of the course.

Answer Key to Study Questions for Test #3

Here is the key for the sample problems. There are obviously a few duplicates. Sorry. Also, I threw this together rather quickly so there may be some errors. If you think there are any errors, please contact me via email or AIM (CinciDood). If you leave a comment on the blog I may not see it.

Good luck.

1-C, 2-D, 3-D, 4-D, 5-B, 6-C, 7-D,
8-C, 9-C, 10-D*, 11-C, 12-C, 13-C,
14-C, 15-D, 16-B, 17-D, 18-A**,
19-C, 20-C, 21-C, 22-A, 23-A,
24-A, 25-B, 26-B, 27-B, 28-D, 29-D,
30-C, 31-B, 32-B, 33-C, 34-B,
35-C, 36-B, 37-A,
38-D, 39-A, 40-D, 41-C, 42-D,
43-B, 44-B, 45-B, 46-C

*I originally reported A here, because option B sounds a bit like structural unemployment. But if the following argument is made, B could be correct: "a person is structurally unemployed if sectoral changes in the economy make it difficult to find a new job because of obsolete skills. If a sectoral change in the economy doesn't necessarily result in skills no longer in demand, then a sectoral change results in frictional unemployment." If that is the case, A and B can both be correct. I'd also have to argue that C would be correct since people can, by choice, move to a new job because of working conditions. I think D is the best answer. For the test, I'll try to be very clear about structural unemployment and the out-of-demand skill set.


**18 was originally reported as C. It is A. Thanks RGE.