A Sample of 35 Students Enroll in a Program That $\bar { x } = 20$

question 64

Multiple Choice

A sample of 35 students enroll in a program that claims to improve scores on the quantita reasoning portion of the Graduate Record Examination (GRE) . The participants take a mc GRE test before the program begins and again at the end to measure their improvement.
The mean number of points improved was $\bar { x } = 20$ . Assume the standard deviation is $\sigma = 64$ and let $\mu$ be the population mean number of points improved. To determine whether the program is effective, a test is made of the hypotheses $H _ { 0 } : \mu = 0$ versus $H _ { 1 } : \mu > 0$ .
Do you reject $H _ { 0 }$ at the $\alpha = 0.01$ level? ive

• A) There is not enough information to draw a conclusion.
• B) No
• C) Yes

Recognize ethical dilemmas auditors may encounter and understand the role GAAP plays in such dilemmas.

Analyze the considerations and issues surrounding the adoption of IFRS by the SEC.

Identify and understand different types of pronouncements issued by the FASB and their purposes.

Describe the FASB initiatives aimed at converging U.S. accounting standards with international standards.

---

Definitions:

Dominant Strategy

A strategy that always provides a better outcome for a player, no matter what the other players do.

Reward/Risk Ratio

A financial metric that compares the expected returns of an investment to the amount of risk undertaken to capture these returns.

Nonsystematic Variance

The portion of an asset's total variance that is attributable to factors unique to that specific asset, as opposed to broader market influences.

Market Index

A metric that measures the performance of a basket of securities intended to represent a particular market or segment of it, like the S&P 500 or NASDAQ.