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

question 86

Short Answer

SCENARIO 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 Scenario 9-9,state the alternative hypothesis for this study.

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Definitions:

Utility Function

A mathematical representation of how different quantities of goods or services increase a consumer's satisfaction or happiness.

Risk Averse

A description of an individual or entity's preference to avoid risk, choosing certainty over potential higher rewards that come with greater risk.

Profitability

A financial metric indicating the extent to which a person or business generates more revenue than the costs incurred in producing its goods or services.

Interest Rate

The percentage of an amount of money charged for its use per period of time, often annually.