Exhibit 9-1

question 82

Multiple Choice

Exhibit 9-1.A university is interested in promoting graduates of its honors program by establishing that the mean GPA of these graduates exceeds 3.50.A sample of 36 honors students is taken and is found to have a mean GPA equal to 3.60.The population standard deviation is assumed to equal 0.40. Refer to Exhibit 9-1.At a 5% significance level,the critical value(s) is (are) ________.

• A)1.645
• B)1.690
• C)-1.96 and 1.96
• D)-2.030 and 2.030

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Definitions:

Perpetuity

An annuity that pays a set amount indefinitely, without an end.

Ordinary Perpetuity

A type of annuity that pays a fixed amount to an investor at regular intervals indefinitely.

Compounded Annually

An interest calculation method where interest is added to the principal once a year, affecting the calculation of future interest.

Compounded Monthly

An interest calculation method where interest is added to the principal balance monthly, causing the total amount of interest to grow at an increasing rate.