the college bookstore says that the average cost of textbooks is $52 with a standard deviation of $4.50. a group of skeptical statistics students want to test the bookstore’s claim with a sample of 100 books, and find a mean of $53. a) what decision should the students make if they set alpha to .01?

b.) Compare and contrast the benefits and drawbacks of having a high alpha level vs. a low alpha level. What are some of the practical/real world implications of either setting an alpha level too high (i.e., .1) or too low (i.e., .001) in your study/analysis?

The Wechsler IQ test has a normal shape with μ = 100 and σ = 15. Describe the expected characteristics of the distribution of sample means for samples of n = 45. Mean = Standard error Shape = Still speaking of the Wechsler IQ test, if you take a random sample of n = 36 students, what is the probability that the sample mean will be between 96 and 104? Be careful about which formula you use. Still speaking of the Wechsler IQ test, if you take a random sample of n = 144 students, what is the probability that the sample mean will be between 96 and 104?

What is your idea about the following paragraph?

The color of a uniform can influence a patient's perception of the care they are receiving. This is something we can all relate to in clinical because first impressions significantly contribute to the confidence patients have in their care. Looking at our uniforms in nursing school now, our maroon pants and white tops bring a sense of professionalism into our clinical sites that influences the healthcare team's perception of us as well. This is beneficial to nursing students because it helps the team see us not only as students, but as collaborative assets to the patient's care as well.

Students will create a 2 – 3-page infographic summarizing the effects of an emerging technology on business and accounting. The objective of this assignment is to familiarize yourself with a variety of emerging data and technology topics and their importance to accounting. Before completing this assignment, make sure to read the documents related to ‘Data Analytics Mindset’ in the Week 5 Documents & Resources folder. An analytics mindset is the ability to: Ask the right questions Extract, transform, and load relevant data Apply appropriate data analytics techniques Interpret and share the results with stakeholders You will learn about emerging technologies that are or becoming influential in the accounting profession. Many of these technologies may have significant implications for the future of accounting. Understanding these current and emerging technologies can influence every aspect of an analytics mindset by changing the questions you ask, altering how you work with data, requiring you to apply different or new data analytics techniques, and influencing how you share your results with stakeholders. Required Select a technology (see list below). Create an infographic that includes the following: (1) a brief summary about the topic and (2) explain how the technology affects, or could affect business and accounting. (3) Briefly explain how the technology affects/may affect the analytics mindset – asking the right questions, extracting/transforming/loading relevant data, applying appropriate data analytic techniques, and interpreting and sharing the results with stakeholders. Sample List of Technologies American Institute of Certified Public Accountants data standards Artificial intelligence (software of robots) Augmented reality and virtual reality Big data ethics (including data privacy) Big data storage (e.g. data lakes) Blockchain (internet of value) and cryptocurrencies (bitcoin) Cloud computing Cognitive computing Continuous auditing and monitoring Cybersecurity Dark data and dark analytics Drones Internet of Things (IOT), Internet of People and sensors Machine learning Natural language generation Neural networks, deep neural networks and deep learning Robotic process automation (RPA)

SAT scores of students at an Ivy League college are distributed with a standard deviation of 250 points. Two statistics students, Raina and Luke, want to estimate the average SAT score of students at this college as part of a class project. They want their margin of error to be no more than 25 points.

(a) Raina wants to use a 90% condence interval. How large a sample should she collect?
Raina should sample at least  people.

(b) Luke wants to use a 99% condence interval. Without calculating the actual sample size, determine whether his sample should be larger or smaller than Raina's, and explain your reasoning.

smaller since Luke has a higher level of confidence in his results than Raina

smaller because higher degrees of confidence require smaller margins of error

larger higher degrees of confidence require larger margins of error

(c) Calculate the minimum required sample size for Luke.
Luke should sample at least  people.

The figure to the right shows the results of a survey in which 2500 college graduates from the year 2016 were asked questions about employment. Construct 95​% confidence intervals for the population proportion of college students who gave each response. A table labeled "Employment, College students' responses to questions about employment" consists of five rows containing the following information from top to bottom, with row listed first and information listed second: Expect to stay at first employer for 3 or more years, 72 percent; Completed an apprenticeship or internship, 67 percent; Employed in field of study, 63 percent; Feel underemployed, 48 percent; Prefer to work for a large company, 15 percent. 72%67%63%48%15% The 9595​% confidence interval for the proportion of college students that expect to stay at their first employer for 3 or more years is left parenthesis nothing comma nothing right parenthesism,m. ​(Round to three decimal places as​ needed.) please breakdown the problem. Thank you

There is a lot of interest in the relationship between studying music and studying math. We will look at some sample data that investigates this relationship. Here are the Math SAT scores from 9 students who studied music through high school and 10 students who did not. The degrees of freedom (d.f.) is given to save calculation time if you are not using software.

Test the claim that students who study music in high school have a higher average Math SAT score than those who do not. Use a 0.01 significance level.

(a) Find the test statistic.

(b) Find the critical value.

(c) Is there sufficient data to support the claim?
Yes
No

There is a lot of interest in the relationship between studying music and studying math. We will look at some sample data that investigates this relationship. Here are the Math SAT scores from 9 students who studied music through high school and 10 students who did not. The degrees of freedom (d.f.) is given to save calculation time if you are not using software.

Test the claim that students who study music in high school have a higher average Math SAT score than those who do not. Use a 0.01 significance level.

(a) Find the test statistic.

(b) Find the critical value.

(c) Is there sufficient data to support the claim?
Yes
No

Recently the U.S. Department of Education released a report on online learning stating that blended instruction, a combination of conventional face-to-face and online instruction, appears more effective in terms of student performance than conventional teaching. You decide to poll the incoming students at your institution to see if they prefer courses that blend face-to-face instruction with online components. In an SRS of 300 incoming students, you find that 213 prefer this type of course.

(a) What is the sample proportion who prefer this type of blended instruction? (Round your answer to two decimal places.)

(b) If the population proportion for all students nationwide is 85%, what is the standard deviation of p̂? (Round your answer to four decimal places.) σp̂ = ?

(c) Using the 68–95–99.7 rule, if you had drawn an SRS from the United States, you would expect p̂ to fall between what two percents about 95% of the time? (Round your answers to two decimal places.)

Two students in a Game Theory course plan to take an exam tomorrow. The professor seeks to create incentives for students to study, so he tells them that the student with the highest score will receive a grade of A and the one with the lower score will receive a B. Student 1’s score equals x1 + 1.5, where x1 denotes the amount of hours studying. Student 2’s score equals x2, where x2 is the hours she studies. Note that these score functions imply that, if both students study the same number of hours, x1 = x2, student 1 obtains the higher score, i.e., she is “the smarter of the two”. Assume, for simplicity, that the hours of studying for the game theory course is an integer number, and that they cannot exceed 5. The payoff to student i is 10 – xi if she gets an A and 8 – xi if she gets a B.

a) Which outcome(s) survive iterated deletion of strictly dominated strategies?

b) Which outcomes survive iterated deletion of weakly dominated strategies?