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A statistics course at a large university is taught in each semester. A student has noticed that the students in semester 1 and semester 2 are enrolled in different degrees. To investigate, the student takes a random sample of 25 students from semester 1 and 25 students from semester 2 and records their final marks (%) provided in the table below. Excel was used to generate descriptive statistics on each sample.
Assume that student final marks are normally distributed in each semester. Estimate a 95% confidence interval for the difference in the proportions of students who received a high distinction in semester 1 to semester 2.
Output Market
A marketplace in which finished goods and services are traded, involving businesses selling to consumers or other businesses.
Marginal Rate
The rate of change in a quantity or cost in response to a one-unit change in another variable.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs.
Utility
In economics, it represents a measure of satisfaction or happiness that consumers derive from the consumption of goods and services.
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