In Order to Improve the Grades of Students at UTC

question 3

Short Answer

In order to improve the grades of students at UTC, several incentive programs have been introduced. Results of random samples of grades from after and before the incentive programs are given below.
$\begin{array}{lcc}&\text { After Incentives }&\text { Before incentives }\\\text { Sample Size } & 14.00 & 12.00 \\\text { Sample Mean } & 2.85 & 2.61 \\\text { Sample Standard Deviation } & 0.40 & 0.35 \\\text { Sample Mode } & 2.50 & 3.00\end{array}$
a. Give the hypotheses.
b. Compute the test statistic.
c. At a 0.1 level of significance, test to determine whether the incentive programs have significantly increased the average grades.

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Definitions:

Total Surplus

The sum of consumer and producer surplus, representing the overall benefit to society from the production and consumption of goods and services.

Equilibrium Price

The market price at which the supply of an item equals the quantity demanded, leading to an economic state of balance.

Producer Surplus

The contrast between the asking price of goods by producers and the actual selling price.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from trading a good or service.