A Group of 200 Students Takes the Kaplan Course in Hopes

question 135

Multiple Choice

A group of 200 students takes the Kaplan course in hopes that it will improve their SAT scores above the national mean of 500 on the math section.The population standard deviation of the SAT is known to be 100.Use an alpha level of .05 when answering the following questions.What should be the critical value?

• A)-1.96 and +1.96
• B)-1.645
• C)+1.645
• D)+1.96

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Definitions:

Social Regulation

Rules designed to protect the health, safety, and welfare of the public, often including environmental and worker safety regulations.

Allocative Efficiency

The apportionment of resources among firms and industries to obtain the production of the products most wanted by society (consumers); the output of each product at which its marginal cost and price or marginal benefit are equal, and at which the sum of consumer surplus and producer surplus is maximized.

Small Firms

Businesses with a limited number of employees and revenue, often characterized by more personalized customer service and less market control compared to larger companies.

Ergonomics Regulations

Rules and guidelines designed to create safe and comfortable working environments by studying human interaction with elements in the system.