All 423 Wisconsin Public Schools Were All Given a Rating

question 51

Essay

All 423 Wisconsin public schools were all given a rating by the Wisconsin Department of Public Instruction based on several variables. The mean rating reported was 71.5 and the standard deviation was 4.87. To do a follow-up study a random sample of 40 schools was selected. In this sample, the mean rating was 70.9. One of the researchers is alarmed, thinking the report may have been mistaken. Do you think this sample result is unusually low? Explain.

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Definitions:

Normal Good

A product whose demand increases when consumer income rises and falls when consumer income decreases.

Income Increases

Refers to a rise in the amount of money that individuals or households receive, from sources such as wages, investments, or benefits.

Indifference Map

A graphical representation of a consumer's preferences for different combinations of goods, where each curve indicates all combinations that offer the same level of satisfaction or utility.

Indifference Curves

Graphs showing combinations of goods or services among which a consumer is indifferent, reflecting preferences and trade-offs.