A Teacher Returns an Exam with Possible Scores Ranging from 0

question 36

Multiple Choice

A teacher returns an exam with possible scores ranging from 0 to 100. The students suspect that the majority of them performed poorly on the exam and request summary statistics. The teacher provides the mean, which was 72, as a summary statistic. A total of 400 students took the exam. Some of the students find the mean to be high, based on talking to other students. They take a random sample of 15 students, and they find that the mean equals 71.5 while the median equals 62. Based on this result, we conclude that:

• A)the boxplot is most likely symmetric about the mean.
• B)the mean will be in the center of the boxplot.
• C)the mean will be off center in the boxplot and above the median.
• D)None of the answer options is correct.

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Definitions:

Goodwill

The intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets, reflecting factors like reputation, brand, and customer relationships.

Intragroup Dividends

Dividends paid between entities within the same group, which are eliminated in consolidation to avoid double counting of income.

Statement of Financial Position

A financial document summarizing an entity's assets, liabilities, and shareholders' equity at a specific point in time.