In an Early Study, Researchers at a University Found That

question 202

Multiple Choice

In an early study, researchers at a university found that 33% of the first year students had received at least one A in their first semester. Administrators are concerned that grade inflation has caused this percentage to increase. In a more recent study, of a random sample of 500 first year students, 185 had at least one A in their first semester.
-The appropriate test statistic to test the hypotheses is _____.

• A)1.85
• B)1.16
• C)1.90
• D)2.71
• E)-1.90

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Definitions:

Utility Function

A mathematical model in economics that represents a consumer's preference ordering over a set of goods or services.

Utility Function

A mathematical representation of how consumers rank different bundles or combinations of goods and services according to the level of satisfaction or utility those combinations provide.

Paasche Price Index

An economic measure that calculates the change in the cost of acquiring a given basket of goods and services in the current period compared to a base period, using the current period quantities as weights.

Doggerel

A term used to describe poetry that is irregular in rhythm, rhyme, or is of a trivial or low quality.