Test 1 scores and scale

Here are the results of the first test. Overall, I think collectively you could have done a better job. The average is pretty low and the standard deviation (a measure of dispersion around the mean) is rather high, meaning scores are all over the place.

Descriptive Statistics:

mean = 26.48 out of 40 possible points (around 66.2%)
median = 26.25 (around 65.6%)
standard deviation = 6.4 points (about 16%)

It may seem as if the test was "hard", but since there were two perfect papers and two 39s, I think the test is justified as reasonable.

You can use the following scale as a guideline for interpretation (frequencies in parentheses).

A: 33 and up (17)
B: 26.5 - 32.5 (30)
C: 20 - 26 (33)
D: 13.5 - 19.5 (14)
F: 13 and lower (0)

Please note, however, if you scored less than 50% (20 out of 40) you shouldn't be feeling all that great about your performance. Yes, this scale calls it a C or D but I'm reluctant to say its passing. I'm just hoping that performance on later tests and performance on homework assignments will push up that overall mean.

Also, you need to know that I only record the raw score in the gradebook. There is no letter grade recorded for this test. The raw score is used to weight the 20 possible percentage points. For example, say you scored a 33 out of 40 points. Then of that 20 percentage points allocated to this test, you earned

(33/40) x 20 = 16.5 percentage points.

Good luck with the rest of the semester.

Key to sample problems for test 1

Here is the key. I sorta forgot about it earlier. I put this together rather quickly so please let me know if you think something is incorrect. I should have my AIM on for a few hours this evening.

So watch this space for updates.

1-A+, 2-C+, 3-D+, 4-D, 5-B, 6-A, 7-D,
8-A, 9-A, 10-B, 11-D, 12-A, 13-B, 14-B,
15-B, 16-B, 17-D, 18-A, 19-D, 20-D,
21-D*, 22-C*, 23-C*, 24-A*, 25-B, 26-D, 27-A,
28-B, 29-B, 30-B, 31-C, 32-C, 33-B,
34-B, 35-C, 36-D, 37-D, 38-C,
39-D, 40-A, 41-B, 42-A,
43-B, 44-B, 45-A, 46-D,
47-D, 48-B, 49-B, 50-B, 51-D, 52-D**, 53-B


Comments

+(updated at 10:26 p.m.) #1 - 3 we didn't really talk about. I won't ask any business cycle questions. Except that we talked about recessions which are business cycle related. Recessions are when output declines and unemployment rises.

* Problems like 21 through 24, where you have to calculate GDPs from hypothetical data, will NOT be on the test. We did not do any of those in class or homework and it is not well covered in the Taylor text. Keep in mind these problems are from old tests. The test on Thursday will cover material we focused on in class as well as the assigned readings.

HOWEVER- This sample test lacks a bit of calculating ratios and percentage changes like from the first homework. Make sure you know how to do those problems.

**I don't like the wording in this problem as I think it is tricky in its use of "may". I think all of the above are true but if you think "may" includes the possibility someone has a comparative advantage in everything they do, well, then only C would be correct. I'm not going to argue. I'm just going to say I don't expect to put a question of this nature on one of my exams again.


Good luck.