You Recently Took a Statistics Exam in a Large Class

question 31

Multiple Choice

You recently took a statistics exam in a large class. The instructor tells the class that the scores were Normally distributed, with a mean of 72 (out of 100) and a standard deviation of 12. Your score was 90. Your friend had a time conflict and took a course with another instructor. Your friend had a score of 75 on a test, with a mean of 60 and a standard deviation of 10. What can you conclude?

• A)You clearly ranked better.
• B)You and your friend ranked equally well.
• C)Your friend actually ranked better.
• D)The tests cannot be compared.

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Definitions:

Trade-Off

The concept of giving up one benefit in order to gain another, greater benefit, highlighting the necessity of making choices between competing options.

Wage Increases

Adjustments upwards in the compensation that workers receive for their labor, often reflecting economic conditions, productivity, and negotiation outcomes.

Union Members

Individuals who belong to a labor union, an organization that represents workers' interests in negotiations with employers.

Exclusive Union

A labor union arrangement where only members of the union can be employed by the firm or within a certain industry.