A Total of 23 Gossett High School Students Were Admitted $\text { Composite ACT Score }$

question 32

Essay

A total of 23 Gossett High School students were admitted to State University. Of those students, 7 were offered athletic scholarships. The school's guidance counselor looked at their composite ACT scores (shown in the table), wondering if State U. might admit people with lower scores if they also were athletes. Assuming that this group of students is representative of students throughout the state, what do you think?
$\text { Composite ACT Score }$
$\begin{array}{|c|c|}\hline\text { Non-athletes} &\text { Athletes} \\\hline 25 \quad21 & 22 \\22\quad 27 & 21 \\19 \quad 29 & 24 \\25 \quad 26 & 27 \\24 \quad 30 & 19 \\25 \quad 27 & 23 \\24 \quad 26 & 17 \\23 \quad 23 & \\\hline\end{array}$

-Create and interpret a 90% confidence interval.

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Definitions:

Faithful Representation

A qualitative characteristic of financial information that ensures the information depicts the economic phenomenon it intends to represent, without error or bias.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.

Going Concern

The assumption that a company will continue in operation for the foreseeable future.