The Law School Admission Test (LSAT)is Designed So That Test

question 25

Short Answer

The Law School Admission Test (LSAT)is designed so that test scores are normally distributed.The mean LSAT score for the population of all test-takers in 2005 was 154.35 with a standard deviation of 5.62.If you drew all possible random samples of size 100 from the population of LSAT test-takers and plotted the values of the mean from each sample,the resulting distribution would be the sampling distribution of the mean.What is the value of the mean of the sampling distribution?

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than others.

Trade Deficit

The economic condition that arises when a country imports more goods and services than it exports.

Unfair Trade Practices

Business activities deemed unjust, deceptive, or fraudulent that can affect fair competition in the market.