List of top Statistics for Economics Questions on Probability

There are 32 students in a class. Three courses namely English, Hindi and Mathematics are offered to them. Each student must register for at least one course. If 16 students take English, 8 students take Hindi, 18 students take Mathematics, 4 students take both English and Hindi, 5 students take both Hindi and Mathematics, and 5 students take both English and Mathematics, then the number of students who take Mathematics only is (in integer).

Two students 𝐴 and 𝐵 are assigned to solve a problem separately. The (conditional) probability that 𝐴 can solve the problem given that 𝐵 cannot solve it, is 1/5. The (conditional) probability that 𝐵 can solve the problem given that 𝐴 can solve the problem is 3/5 . The probability that 𝐴 can solve the problem is 1/10.Then, the probability that 𝐵 can solve the problem is ______ (rounded off to one decimal place).

Let $X_1, X_2, … , X_𝑛$ be a random sample of size n > 1 drawn from a probability distribution having mean $\mu$ and non-zero variance $\sigma^2$. Then, which of the following is/are CORRECT?

Let a random variable X has mean $\mu_x$ and non-zero variance $ \sigma ^2 _x$, and another X random variable Y has mean $\mu_y$ and non zero variance $\sigma ^2 _y$. If the correlation Y coefficient between X and Y is $\rho$, then which of the following is/are CORRECT?

Consider two independent random variables: $X ∼ N(5, 4)$ and $Y~N(3, 2)$. If $(2X + 3Y)~N(\mu, \sigma ^2)$, then the values of mean ($\mu$) and variance ($\sigma ^2$) are

Two distinct integers are chosen randomly from 5 consecutive integers. If the random variable x represents the absolute difference between them, then the mean and variance of x are, respectively,

Suppose a random variable 𝑋 follows an exponential distribution with mean 50. Then, the value of the conditional probability $ P(X > 70 | X > 60)$ is