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A Calculus Professor Posted the Following Grade Distribution Guidelines for Her

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A calculus professor posted the following grade distribution guidelines for her elementary calculus class: 8% A,35% B,40% C,12% D,and 5% F.A sample of 100 elementary statistics grades at the end of last semester showed 12 As,30 Bs,35 Cs,15 Ds,and 8 Fs.Test at the 5% significance level to determine whether the actual grades deviate significantly from the posted grade distribution guidelines.

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Definitions:

Monetarist Economists

Economists who believe that the variation in the money supply has major influences on national output in the short run and the price level over longer periods.

Monetary Policy

The process by which the central bank of a country controls the money supply, often targeting an inflation rate or interest rate to ensure economic stability.

Policymakers

Individuals or groups responsible for making decisions and laws that influence a nation's economy, society, and overall governance.

Rational Expectations

The hypothesis that individuals and firms use all available information to make economic decisions and forecasts, impacting market outcomes.

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