Studying for Exams a Philosophy Professor Has Found a Correlation

question 136

Essay

Studying for exams A philosophy professor has found a correlation of 0.80 between the
number of hours students study for his exams and their exam performance. During the
time he collected the data, students studied an average of 10 hours with a standard
deviation of 2.5 hours, and scored an average of 80 points with a standard deviation of 7.5
points.
a. Create a linear model to estimate the number of points a student will score on the next
exam from the number of hours the student studies.
b. If a student studies for 15 hours, what score should the student expect on the next exam?
Show your work.

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Definitions:

Sales Mix

The sales mix is the proportion of different products or services that a company sells, influencing overall profitability.

Break-even Point

The production level or sales volume at which total revenues equal total expenses, resulting in no net profit or loss.

Sensitivity Analysis

An approach to assess how different values of an independent variable affect a specific dependent variable under a given set of assumptions.

CVP Analysis

Cost-Volume-Profit Analysis, a tool that helps managers understand the relationship between cost, volume, and profit by identifying the break-even point or targeted profit output.