TABLE 9-9 The President of a University Claimed That the Entering Class

question 82

True/False

TABLE 9-9
The president of a university claimed that the entering class this year appeared to be larger than the entering class from previous years but their mean SAT score is lower than previous years. He took a sample of 20 of this year's entering students and found that their mean SAT score is 1,501 with a standard deviation of 53. The university's record indicates that the mean SAT score for entering students from previous years is 1,520. He wants to find out if his claim is supported by the evidence at a 5% level of significance.
-Referring to Table 9-9, the president can conclude that there is sufficient evidence to show that the mean SAT score of the entering class this year is lower than previous years with no more than a 10% probability of incorrectly rejecting the true null hypothesis.

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Definitions:

Separate Markets

Markets that do not interact with each other due to various factors such as geography, product differentiation, or consumer preferences, leading to potentially different prices for similar goods.

Monopolist

A market participant that is the sole seller of a good or service, enabling them to control the market price.

United States

A country in North America, comprising 50 states, known for its economic and military power as well as its cultural influence worldwide.

England

A country in Europe known for its rich history, contributions to economic theory, and as the birthplace of the industrial revolution.