In the Past,of All the Students Enrolled in "Basic Business $\alpha$

question 58

Multiple Choice

In the past,of all the students enrolled in "Basic Business Statistics" 10% earned A's 20% earned B's,30% earned C's,20% earned D's and the rest either failed or withdrew from the course.Dr Johnson is a new professor teaching "Basic Business Statistics" for the first time this semester.At the conclusion of the semester,in Dr.Johnson's class of 60 students,there were 10 A's,20 B's,20 C's,5 D's and 5 W's or F's.Assume that Dr.Johnson's class constitutes a random sample.Dr Johnson wants to know if there is sufficient evidence to conclude that the grade distribution of his class is different than the historical grade distribution. At $\alpha$ = .05,test to determine if the grade distribution for Dr.Johnson's class is different than the historical grade distribution.

• A)Reject H₀
• B)Fail to reject H₀

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Definitions:

Different Times

Various points or periods in time, indicating a range of temporal instances or durations.

Marginal Utility

The heightened utility one obtains from the consumption of an extra unit of a particular good or service.

Income

Income earned, particularly when it's consistent, from work or investment returns.

Efficient Allocation

An economic condition where resources are distributed in a way that maximizes the welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.