A Company That Sells an Online Course Aimed at Helping

question 123

Multiple Choice

A company that sells an online course aimed at helping high-school students improve their SAT scores has claimed that SAT scores will improve by more than 90 points on average if students successfully complete the course. To test this, a national school counseling organization plans to select a random sample of n = 100 students who have previously taken the SAT test. These students will take the company's course and then retake the SAT test. Assuming that the population standard deviation for improvement in test scores is thought to be 30 points and the level of significance for the hypothesis test is 0.05, find the critical value in terms of improvement in SAT points, which would be needed prior to finding a beta.

• A) Reject the null if SAT improvement is > 95 points.
• B) Reject the null if SAT improvement is < 85.065 points.
• C) Reject the null if SAT improvement is > 95.88 points.
• D) Reject the null if SAT improvement is > 94.935 points.

Explain the role of marginal cost and marginal revenue in the operational decisions of competitive price-searcher firms.

Understand the difference between price-taker firms and competitive price-searcher firms, including their impact on market outcomes.

Explain how differentiation impacts market competition and firm strategy in price-searcher markets.

Evaluate how barriers to entry and product diversity affect market competitiveness and firm profitability.

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Definitions:

Epicatechin

A flavanol, a type of natural phenol and antioxidant, found in certain plants such as cocoa and green tea.

Muscle Cells

Specialized cells also known as myocytes, they contract and relax to produce movement and are an essential component of the muscular system.

Epicatechin

A type of flavonoid found in certain plants such as green tea and cocoa, known for its antioxidant properties and potential health benefits.