Answered: An educational researc

Business

Accounting

An educational researc

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 23P: Suppose that the national average for the math portion of the College Boards SAT is 515. The College...

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Suppose that the national average for the math portion of the College Boards SAT is 515. The College Board periodically rescales the test scores such that the standard deviation is approximately 100. Answer the following questions using a bell-shaped distribution and the empirical rule for the math test scores. a. What percentage of students have an SAT math score greater than 615? b. What percentage of students have an SAT math score greater than 715? c. What percentage of students have an SAT math score between 415 and 515? d. What is the z-score for student with an SAT math score of 620? e. What is the z-score for a student with an SAT math score of 405?
The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score for a university is 549. Assume that GMAT scores are bell-shaped with a standard deviation of 50. If required, round your answers to one decimal place. (a) What percentage of GMAT scores are 599 or higher? (b) What percentage of GMAT scores are 649 or higher? (c) What percentage of GMAT scores are between 499 and 549? (d) What percentage of GMAT scores are between 449 and 599?
The Scholastic Aptitude Test (or SAT) is a standardized college entrance test that is used by colleges and universities as a means for making admission decisions. The critical reading and mathematics components of the SAT are reported on a scale from 200 to 800. Several universities believe these scores are strong predictors of an incoming student’s potential success, and they use these scores as important inputs when making admission decisions on potential freshman. The tile RugglesCollege contains freshman year GPA and the critical reading and mathematics SAT scores for a random sample of 200 students who recently completed their freshman year at Ruggles College. Develop an estimated multiple regression equation that includes critical reading and mathematics SAT scores as independent variables. How much variation in freshman GPA is explained by this model? Test whether each of the regression parameters β0, β1, and β2, is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? Using the multiple linear regression model you developed in part (a), what is the predicted freshman GPA of Bobby Engle, a student who has been admitted to Ruggles College with a 660 SAT score on critical reading and at a 630 SAT score on mathematics? The Ruggles College Director of Admissions believes that the relationship between a student’s scores on the critical reading component of the SAT and the student’s freshman GPA varies with the student’s score on the mathematics component of the SAT. Develop an estimated multiple regression equation that includes critical reading and mathematics SAT scores and their interaction as independent variables. How much variation in freshman GPA is explained by this model? Test whether each of the regression parameters β0, β1, β2, and β3 is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? Do these results support the conjecture made by the Ruggles College Director of Admissions? Do you prefer the estimated regression model developed in part (a) or part (c)? Explain. What other factors could be included in the model as independent variables?
Suppose all incoming freshmen at a private college must take an entrance exam. Suppose the scores have normal distribution with a mean of U = 420 and standard deviation of σ = 95. (Show your work by indicating what calculator commands and input you use to find your answers. Round your answer to 1 decimal place.) No Work No Crédit. 1. If a student scores in the bottom 8%, they must attend summer school. What would a student have to score to avoid summer school? Sketch a corresponding normal curve in your solution. Interpret your answer in a complete sentence. 2. If a student scores in the top 4%, they get a free vacation in Hawaii. What would a student have to score to get the vacation? Sketch a corresponding normal curve in your solution. Interpret your answer in a complete sentence.
First year student is wondering if there is any reason why one should get an education because he thinks there is no difference in earnings between the two. But Gilbert and Aaron think education has an impact on how much one earns. Gilbert and Aaron then decided to collect data from 10 people on the number of years they had spent in school and their monthly income. The following is the data they collected. ID Income Years of schooling1 3,000 142 4,500 163 17,000 84 8,000 165 6,500 126 10,000 67 20,000 188 5,500 159 10,000 310 1,000 13 Using the table above, answer the following questions;a. Calculate the b coefficientb. Calculate the a coefficientc. Estimate how much someone who has i. 0 years of schooling will earn ii. 20 years of schooling will earnd. Based on your answers in C above, what would be your conclusion to this debate? Is there an association between years of schooling and monthly income? Justify your answer
The following data consist of the present school enrollment of the Dr. Vesse High School. A study on the recent teaching strategies will be conducted in this school. How many samples should the researcher take if she will use 1% margin of error? Year Level Population Size First Second Third Fourth 150 185 220 245 751 761 741 8.
U.S. Census Bureau statistics show that the annual earnings for persons with a high school diploma are $35*220 versus $57,925 for someone with a bachelor's degree. If the cost of attending college is assumed to be $30,000 per year for 4 years and the forgone earnings during those years are assumed to be $35,220 per year, what rate of return does earn a bachelor’s degree represent? Use a 35-year study period.
Suppose that for a recent admissions class, an Ivy League college received 2,851 applications for early admission. Of this group, it admitted 1,033 students early, rejected 854 outright, and deferred 964 to the regular admission pool for further consideration. In the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. Counting the students admitted early and the students admitted during the regular admission process, the total class size was 2,375. Let E, R, and D represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool. Use the data to estimate P(E), P(R), and P(D). Are events E and D mutually exclusive? Find . For the 2,375 students who were admitted, what is the probability that a randomly selected student was accepted during early admission? Suppose a student applies for early admission. What is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process?
In the 1970s, one million college-bound students were surveyed and asked to compare themselves to their peers. Some of the key findings of the survey were as follows: a. 70% of the students rated themselves as above average in leadership ability, while only 2% rated themselves as below average in this regard. b. With respect to athletic skills, 60% of the students rated their skills as above the median and only 6% of students rated themselves as below the median. c. 60% of the students rated themselves in the top 10% in terms of their ability to get along with others, while 25% of the students felt that they were in the top 1% in terms of this interpersonal skill. Required: What type of cognitive bias reveals itself in the data mentioned above? How might this cognitive bias adversely influence a manager’s planning, controlling, and decision-making activities? What steps could managers take to reduce the possibility that this cognitive bias would adversely influence their actions?
A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The data are stored in the accompanying table. The least-squares regression equation for these data is Y₁ = - 13,863.426 +2.437X, and the standard error of the estimate is Syx = 15,910.578. Assume that the straight-line model is appropriate and there are no serious violations the assumptions of the least-squares regression model. Complete parts (a) and (b) below Click the icon to view the data on program per-year tuition and mean starting salary a. At the 0.01 level of significance, is there evidence of a linear relationship between the starting salary upon graduation and program per-year tuition? Determine the hypotheses for the test. Ho B₁ = D H₁ P₁ #0 (Type integers or decimals. Do not round.)…
A history class is comprised of 8 female and 7 male students. If the instructor of the class randomly chooses 5 students from the class for an oral exam, what is the probability that 3 female students and 2 male students will be selected? Round your answer to 3 decimal places. (If necessary, consult a list of formulas.) ?
A professor wants to investigate the relationship between the grades students obtain in their midterm exam (X) and the grades they obtain (Y) in the final exam. The professor collects data from 60 randomly chosen students. The estimated OLS regression is Ý = 45 +0.85X, where Y, denotes the predicted value of the grades obtained in the final exam by the " individual and X, denotes the grades obtained in the midterm exam. From the sample data he makes the following calculations: 60 3230 48, j= 1 60 3D1 ^2 where u, is the square of the residual for the " observation. He wants to test whether the grades obtained in the midterm exam have any effect on the grades obtained in the final exam or not. Which of the following are the null and the alternative hypotheses of the test the professor wishes to conduct? OA. Ho B1=0 vs. H B1 #0. Ho: B1=0 vs. H B, #0. O B. Ho B=D0.85 vs. H, B,#0.85. C. Ho BA #0 vs. HA B.=0. Click to select your answer(s). DAL Type here to search II