I MEC-003 I

No. of Printed Pages : 8

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
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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.

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SECTION B
Answer any five questions from this section.

5x12=60

5. A monopolists demand curve is P = 100 2Q.

(a)

Find her MR function.

(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].

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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.

10. Write short notes on the following :

(a)

Eigenvalue and Eigenvector

(b)

Rank of a matrix

(c)

Taylor's expansion
4

-1

11. Find the inverse of 0

12. (a) What is a test statistic ?

(b)

Distinguish between one-tailed and

two-tailed tests.

(c)

What is p-value ?

MEC-003

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P.T.O.

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MEC-003

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P.T.O.

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