A Sample of 39 Students Enroll in a Program That $\bar { x }$

question 84

Short Answer

A sample of 39 students enroll in a program that claims to improve scores on the quantitative reasoning portion of the Graduate Record Examination (GRE). The participants take a mock GRE test before the program begins and again at the end to measure their improvement. The mean number of points improved was $\bar { x }$ =7. Assume the standard deviation is $\sigma$ =56 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 $H _ { 0 } : \mu = 0 \text { versus } H _ { 1 } : \mu > 0$
i). Compute the value of the test statistic.
ii). Compute the P-value.
iii). Do you reject H₀ at the $\alpha$ level?

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Definitions:

Productivity

Refers to the measure of output per unit of input.

Input Demand Curves

Graphs showing the relationship between the price of inputs and the quantity of inputs demanded by producers.

Marginal Product

The elevation in production output stemming from the addition of one unit of input.

Profit Maximization

The process or strategy where a firm adjusts its production to achieve the highest possible profit.