Solved

Following Alfred Nobel's Will, There Are Five Nobel Prizes Awarded

Question 37

Essay

Following Alfred Nobel's will, there are five Nobel Prizes awarded each year. These are for outstanding achievements in Chemistry, Physics, Physiology or Medicine, Literature, and Peace. In 1968, the Bank of Sweden added a prize in Economic Sciences in memory of Alfred Nobel. You think of the data as describing a population, rather than a sample from which you want to infer behavior of a larger population. The accompanying table lists the joint probability distribution between recipients in economics and the other five prizes, and the citizenship of the recipients, based on the 1969-2001 period.
Joint Distribution of Nobel Prize Winners in Economics and Non-Economics Disciplines, and Citizenship, 1969-2001  U.S. Citizen (Y=0) Non= U.S. Citizen (Y=1) Total  Economics Nobel  Prize (X=0)0.1180.0490.167 Physics, Chemistry,  Medicine, Literature,  and Peace Nobel  Prize (X=1)0.3450.4880.833 Total 0.4630.5371.00\begin{array} { | c | c | c | c | } \hline & \begin{array} { c } \text { U.S. Citizen } \\( Y = 0 )\end{array} & \begin{array} { c } \text { Non= U.S. Citizen } \\( Y = 1 )\end{array} & \text { Total } \\\hline \begin{array} { c } \text { Economics Nobel } \\\text { Prize } ( X = 0 )\end{array} & 0.118 & 0.049 & 0.167 \\\hline \begin{array} { c } \text { Physics, Chemistry, } \\\text { Medicine, Literature, } \\\text { and Peace Nobel } \\\text { Prize } ( X = 1 )\end{array} & 0.345 & 0.488 & 0.833 \\\hline \text { Total } &0.463 &0.537 &1.00 \\\hline\end{array} (a)Compute E(Y)and interpret the resulting number.
(b)Calculate and interpret E(Y X\mid X =1)and E(Y X\mid X =0).
(c)A randomly selected Nobel Prize winner reports that he is a non-U.S. citizen. What is the probability that this genius has won the Economics Nobel Prize? A Nobel Prize in the other five disciplines?
(d)Show what the joint distribution would look like if the two categories were independent.

Correct Answer:

verifed

Verified

(a)E(Y)= 0.53.7 . 53.7 percent of Nobel ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents