The Average Grade of a Sample of 30 Students on Their

question 28

Essay

The average grade of a sample of 30 students on their second statistics examination was 85 with a standard deviation of 11. Is the variance of the population significantly more than 80? Use a 0.05 level of significance.

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Definitions:

Depicts

Represents or shows something in a picture or story form, often used to describe how information is visually presented.

Profits

The financial gains obtained when revenues exceed the costs and expenses incurred to operate a business.

Fixed Cost

A cost that does not depend on the quantity of output produced; the cost of a fixed input.

Downward-Sloping Demand

A concept in economics that illustrates the inverse relationship between the price of a good and the quantity demanded by consumers.