Each Portion of the SAT Exam Is Designed to Be

question 129

Short Answer

Each portion of the SAT exam is designed to be normally distributed such that it has a population standard deviation of 100 and a mean of 500. However, the mean has changed over the years as less selective schools began requiring the SAT, and because students later began to prepare more specifically for the exam. Construct a 90% confidence interval for the population mean from the following eight scores from the math portion, using the population standard deviation of 100: 450, 660, 760, 540, 420, 430, 640, and 580.

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold.

Cost of Goods Sold

The direct monetary outlays for the creation of goods a company markets, including costs for labor and materials.

Cost of Goods Sold

Costs directly incurred from the process of manufacturing goods that a company sells, including the costs of materials and labor.

Merchandise Sales

The revenue generated from selling goods that a company has purchased or produced for resale.