A professor in the education department believes that OU students study less hours per week when compared to the general population of university students. The general population of university students studies an average of 15 hours a week with a standard deviation of 2. The professor randomly samples 16 OU students and discovers her sample has a mean of 12. Use an alpha level of 0.05 to determine whether OU students study less hours per week when compared to the general population.

a. State the null and alternative hypotheses in words.

b. Set up the criteria for making a decision. That is, find the critical value (s).

c. Compute the appropriate test statistic. Show your work.

d. Based on your answers above, evaluate the null hypothesis.

REJECT FAIL TO REJECT (circle one)

e. State your conclusion in words.

f. Given your decision, what type of error could have been committed?

Type I error Type II error (circle one)

Suppose that for international students the annual cost of a full time Bachelor of Commerce (BComm) degree from Monash University is $45,000 and the equivalent degree at The University of Melbourne is $43,000. Also, suppose that at these prices there are 800 international students studying a BComm at Monash University and 900 international students studying a BComm at The University of Melbourne.

A. If Monash University lowers the cost of its annual Bachelor of Commerce course for international students to $40,000, what would the corresponding change in the quantity demanded of the course at The University of Melbourne need to be such that the two goods have a cross price elasticity of 1.2? Show your workings. Round your answer to the nearest whole number. [3 marks]

B. Given the cross-price elasticity is 1.2, if there is a 10% increase, for international students, in the price of the BComm course at Monash University, what will happen to international student demand for the BComm course at The University of Melbourne? Be specific in your answer, i.e. demand will … by … %. Show your workings. What does this tell us about the two goods? [1 mark]

Suppose a video teaching method will be adopted if a hypothesis test supports the conclusion that the video teaching method increases the mean grade point average (GPA) of students. Now, the mean GPA of students for the current face-to face teaching method is 3.04. Which of the following is FALSE?

Select one:

a. At the 0.05 level of significance, the video teaching method will be adopted if the sample mean GPA for the video teaching method is found to be higher than 3.04

b. Type I error may be made when the hypothesis test concludes that the video teaching method will be adopted but actually the mean GPA of students for the video teaching method does not increase the GPA of students from the current face-to-face teaching method.

c. In this hypothesis test, H₀: μ ≤ 3.04 vs H₁: μ > 3.04

d. Type II error may be made when the hypothesis test concludes that the video teaching method will not be adopted but actually the mean GPA of students for the video teaching method is higher than 3.04.

A group of statistics students decided to conduct a survey at Loyola Marymount University to find the mean number of hours students spent studying per week. a. They sampled 576 students and found the mean to be 20 hours. Assuming we know the population standard deviation is 7 hours, what is the confidence interval at the 95% level of confidence? b. They sampled 576 students and found the mean to be 20 hours. Assuming we know the population standard deviation is 7 hours, what is the confidence interval at the 99% level of confidence? What do you notice as the difference between the solution for (a) and (b)? c. They sampled 100 students and found the mean to be 21 hours. Assuming we don’t know the population standard deviation, but we estimate the sample standard deviation to be 6 hours, what is the confidence interval at the 95% level of confidence? d. Assuming we know the population standard deviation is 7 hours, what is the required sample size if the error should be less than 15 minutes with a 95% level of confidence?

Which of the following is true? An undervalued fixed rate currency encourages inflation in that country An overvalued currency is a sign of a trade surplus for that country An undervalued currency is a sign of an excess supply of that currency An overvalued currency increases a country’s exports

A US corporation has a CNY1,000,000 account payable due in 6 months. To hedge its currency risk your company enters into an NDF contract. The current spot rate is CNY7.15/$, the NDF contract rate is CNY7.00/$, and the spot rate 6 months from today is CNY7.25/$

Your company pays $1,929.11

Your company pays $4,926.11

Your company receives $1,929.11

Your company receives $4,926.11

Which of the following transactions is/are in the US BOP account?

I.)    A Chinese company buys US Treasury securities from a broker/dealer in Sydney, Australia.

II.)  An Italian family flies United Airlines to New York.

III.)  A US investment bank buys a German stock from a US insurance company.

IV.) A Spanish mutual fund sells a Chinese company’s stock to a NY investment bank.

V.)  A US company sells a factory in Malaysia to a Chinese bank.

II and V

I and II

II, IV, and V

III and V

A resistor R = 475 Ohm and an inductor of L = 1.4 H are used in and RL circuit to control the timing of some device. What time constant does this device exhibit?

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A long wire carries a steady current of I = 5.5 A. What is the strength of the magnetic field 5.5 cm away from the wire?

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An ideal step up transformer changes 12.5 V in the primary to 118 V in the secondary. How much current is in the secondary if there is 0.475 A in the primary?

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A 400. turn solenoid, 24 cm long, has a diameter 2.2 cm. A 12-turn coil is wound tightly around the center of the solenoid. If the current in the solenoid increases by 3.5 A/s, what will be the induced emf in the short coil?

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Suppose a country has a money demand function (??)?=?? where k is a constant parameter. The money supply grows by 12 percent per year, and real income grows by 4 percent per year.

a. What is the average inflation rate?

b. If real income growth were higher, inflation would be

c. What is the relationship between the parameter k and the velocity of money?

There is no relationship between k and V because the amount of money people hold is not related to the velocity of money.

?=1?V=1k: k is inversely related to velocity because the more money people hold for a given real income, the smaller velocity is, and vice versa.

?=????V=kPYM: k times the ratio of nominal output to the money supply is related to velocity because the more money people hold, the larger velocity is, and vice versa.

?=?V=k: k is directly related to velocity because the more money people hold for a givne real income, the larger velocity is, and vice versa.

d. Suppose, instead of a constant money demand function, the velocity of money in this economy was growing steadily because of financial innovation. Assuming everything else was unchanged, how would that affect the inflation rate?

2. Which of the following pairs of reactants will result in a spontaneous reaction at 25°C. (select all that are spontaneous)

3.

Order the following in order of increasing reducing agent strength (1=weakest; 4=strongest)

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