It Is Known That the Population Mean on the Math

question 65

Multiple Choice

It is known that the population mean on the math portion of the SAT is 500, with a standard deviation of 100.Assume that the average math SAT score for freshmen entering your college is 550, with a standard deviation of 110.Does the math performance of students entering your college differ from that of all individuals taking the SAT? What statistical analysis is used to answer this question?

• A) single-sample t test
• B) z test
• C) standard deviation analysis
• D) dependent-samples t test

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Definitions:

Opportunity Costs

The cost of foregoing the next best alternative when making a decision.

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A calculation used to determine the most cost-effective quantity of inventory to order, minimizing both ordering and holding costs.

Safety Stock

Additional inventory beyond expected demand, kept on hand to prevent stockouts typically caused by uncertainties in supply or demand.