© Ivo Welch, 2004. Part of the textbook "A First Course in Finance."

Self-Test Overconfidence Quiz

The following questions ask you to provide your 90% confidence intervals. For example, if the question is "when did the first federal congress end?" you might say 1770 to 1800, if you know nothing about U.S. history; and 1790 to 1795, if you are a history buff; or even a range of specific days with time-of-say if you are a super history buff. (The correct answer for the adjournment of the first congress is March 3, 1791.)

Your goal is not to provide a range where you are 100% certain that the correct answer is inside your range, nor a range where you are only 50% certain that the correct answer is inside your range. Instead, if I ask you 100 such questions, then you should have the correct answer bracketed in 90 questions, and outside your confidence bracket in 10 questions. If you get 100 brackets right, you have failed just as if you get 50 brackets right.

Note that your knowledge is not what is being tested here: your ability to assess your own knowledge's accuracy is.

Answer 10 of the following questions (or, if you wish, answer 20). You can use free-form, because you will have to grade yourself when the answers are revealed:

Q Question Your Min Your Max Correct Answer
1 When was Beethoven born (baptized)?
2 When did Andy Warhol die?
3 How far can swarms of desert locusts (essentially large grasshoppers) migrate?
4 How many member countries does the United Nations have as of 2003?
5 What is the empty weight of a Boeing 747-400 in lbs (or kg)?
6 When did Lincoln deliver the Gettysburg Address?
7 How many life-time interceptions did the NFL all-time interception leader have?
8 What was Yale was founded?
9 What is the land area of Israel in its 1967 borders in sqkm?
10 According to the United States Census, how many people lived in the U.S. on July 1, 2003?
11 Kublai Khan ruled the largest empire ever known (stretching from Korea to Hungary, and as far south as Vietnam). His death saved Western Europe from certain conquest. So, when did he die?
12 What is the estimate of the number of Muslims in the world, given in the World Almanac of 1997?
13 Akebono (birth name: Chad Rowan) was only the 64th Yokozuna in the history of Sumo wrestling. Around retirement in 2002, what was his weight?
14 How many psalms are there (in the book of King David)?
15 When was Islam's Prophet Muhammad born?
16 According to the official BLS consumer price index, how much would $1 in 1800 have grown to in 2000?
17 How many miles below the international space station does the Hubble telescope orbit, on average?
18 How many U.S. soldiers died in the Vietnam war?
19 What were IBM's earnings in 1992?
20  What was the highest marginal Federal Income Tax Rate after World War II?
Please fill out the min and the max, and only then click below.

Hide the Answers:        Show the Answers:             

Now score yourself. You should have gotten 90% of your answers right. If you answered 10 questions, you should have 9 correct answer ranges. If you answered 20 questions, you should have 18 correct answer ranges. If you have fewer correct answers, then you are overconfident.