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# I MEC-003 I

## MASTER OF ARTS (ECONOMICS)

Term-End Examination

02290

December, 2015

## MEC-003 : QUANTITATIVE METHODS

. Maximum Marks : 100

Time : 3 hours

## Note : Answer the questions from each section as directed.

SECTION A
Answer any two questions from this section.

1.

(a)

2x20=40

## Discuss the Hawkins-Simon condition in

the context of input-output analysis.

## (b) From the following technology matrix find

equilibrium prices if the wage rate is 100
per day :

Steel
Coal
Labour
MEC-003

Steel
0.4
0.7
5

Coal
0.1
0.6
2

Final Demand
50
100

P.T.O.

2.

## (a) Given demand and supply for cobweb

model as Qdt = 18 - Pt and
Qst

3 + 4 Pt - 1

## Find the intertemporal equilibrium price

and determine whether the equilibrium is
stable.
(b)

3.

## Establish the stability condition of

multiplier-accelerator
Samuelson's
interaction model.

## (a) Consider the aggregate production function

L1 a, where Q, K and L are all
Q=
functions of time. Depict and solve for the
time path of capital output ratio.
(b)

Solve :
(t + 2y) dy + (y + 3t 2) dt = 0

4.

## (a) If i is the sample mean, prove that the

expected value of i , E(i) is equal to g (the
population mean).
(b) Describe the process of testing hypotheses
about population proportion of a given
attribute.

MEC-003

SECTION B
Answer any five questions from this section.

5x12=60

(a)

(b)

## What is the relation between slopes of AR

and MR curves ?

(c)

At what price is MR = 0 ?
[AR = Average Revenue; MR = Marginal
Revenue]

## 6. Suppose we roll a die and are told that the

number is even. What is the probability that it
was 2?
7. Solve the following linear programming model in
x1 and x2
Maximize z = 45x1 + 55x2
subject to 6x 1 + 4x2 120, xi 0
3x1 + 10x2 180, x2 ?.. 0
8. The SD of output per acre from a sample of
34 representative firms producing paddy is 83 kg.
Is the hypothesis that SD of output per acre for all
firms producing paddy is 107 kg rejected at 5%
level of significance ? (Use large sample test)
[SD = Standard Deviation].

MEC-003

P.T.O.

9.

## What is a binomial distribution ? Find the mean

and standard deviation of it with n and p as the
two parameters.

(a)

## Eigenvalue and Eigenvector

(b)

Rank of a matrix

(c)

Taylor's expansion
4

-1

(b)

## Distinguish between one-tailed and

two-tailed tests.

(c)

What is p-value ?

MEC-003

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MEC-003

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P.T.O.

2.

t 370

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Qdt = 18 Pt at

Qst = 3 + 4Pt _

zrg

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'N 3Titria.

L1 a

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fuz *rr-A-R

## E(X) A-Ri1s.e4i Tiluf

Will
(W) ct)

tifk.-11311 *

SR

MEC-003

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5.

f ch4i

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t : P = 100 2Q.

## () 3kichl MR TM. Tff 4trl I

NO AR

f'cmi

(TT)

MR cl9h1

610

ft ;Err Ti4tT

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[AR = 31 3711:1; MR =

6.

1 tWi
xi cbcii

7.

xi

.)1 11 ?

31RTIT

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(-1(.90-ii 2 t ?

x2

EFT

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fwd

z .45xi + 55x2
6x1 + 4x2 120, xi 0
3x1 + 103[2 __ 180, x2

8.

-* RN0 mrd
fT AFT
aTi:Eftwrt
zErgtf 4-1114)

## 3c-41c-I W- HI1W4dR" (SD) = 83 kg * I

AfrichiLi * 3TRT1t tR

7fg

1.Z.w

## Trift tTR. dctlicch

I-4-4-e4 (SD) = 107 kg ?
tR

MEC-003

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P.T.O.

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MEC-003

pATT-4

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