In the Past, of All the Students Enrolled in Basic

question 3

Short Answer

In the past, of all the students enrolled in Basic Business Statistics, 10 percent earned an A, 20 percent earned a B, 30 percent earned a C, 20 percent earned a D, and the remainder failed the course. Dr. Johnson is a new professor teaching Basic Business Statistics for the first time this semester. At the conclusion of the semester, of his 60 students, 10 had earned an A, 20 a B, 20 a C, 5 a D, and 5 received an F. Assume that the class constitutes a random sample. Dr. Johnson wants to know if there is sufficient evidence to conclude that the grade distribution of his class is different from the historical grade distribution. If we assume at α = .05 and that the null hypothesis is rejected, make a one-sentence managerial conclusion.

---

Definitions:

Perfect Substitutes

Two goods with straight-line indifference curves.

Constant

A fixed value in mathematics, physics, and other sciences, that does not change under specified conditions.

Indifference Curves

Graphical representations in consumer theory that show combinations of two goods among which a consumer is indifferent.

Downward Sloping

A term often used to describe a graph line indicating a decrease in one variable as another variable increases, such as price and demand.