A recent article in USA Today reported that a job awaits 33% of new college graduates. The major reasons given were an overabundance of college graduates and a weak economy. A survey of 200 recent graduates from your school revealed that 80 students had jobs. At a 99% level of confidence, can we conclude that a larger proportion of students at your school have jobs?

(a) State the null and alternate hypothesis. (b) Determine which distribution to use for the test statistic, and state the level of significance. (c) Calculate the necessary sample test statistics (d) Draw a conclusion and interpret the decision.

1. A university asked 10 graduate students how many hours of homework they were planning to do that week. Here are their responses:

14 13 15 21 19 24 25 28 25 31

A. What's the mean number of hours of homework done by the students per week? What is the median? Why are these figures different?

B. What is the range of data?

C. Is the data skewed? If so, in what direction? How do you know?

Please show all calculations. Also please show all calculations in typing rather than writing. Thank you kindly.

1. Suppose in a survey of n = 2000 students, 1200 responded that they prefer small classes and 800 responded that they prefer large classes. Let p denote the fraction of all students who preferred small classes at the time of the survey, and X ̄ be the fraction of survey respondents who preferred small classes. (Hint: X is distributed as a Bernoulli random variable) (a) Show that E(X ̄) = p and Var(X ̄) = p(1 − p)/n. (b) Use the survey result to estimate p, and calculate the standard error of your estimator. (Hint: Notice that this is the same as estimating the sample mean)

***PLEASE SHOW HOW TO SOLVE IN EXCEL*** NOT HANDWRITTEN

6) The time needed to complete a final examination in a particular college course is normally distributed with a mean of 90 minutes and a standard deviation of 15 minutes. Answer the following questions.

a. What is the probability of completing the exam in one hour or less?

b. What is the probability that a student will complete the exam in more than 60 minutes but less than 105 minutes?

c. Assume that the class has 60 students and that the examination period is 120 minutes in length. How many students do you expect will be unable to complete the exam in the allotted time?

1. Imagine students could opt to have their student loans paid in euros. What would the long-term effect on the balance of payments be? Would it make a difference if the students immediately opted to do a year’s study as a foreign exchange student in the Eurozone?
2. 1) Using a diagram, show how the government can intervene in the forex market to maintain a fixed exchange rate. 2) When would it become necessary to devalue the currency?
3. Given the exchange rates between the UK pound and the US dollar and between the UK pound and the euro, how can the exchange rate between the euro and the dollar be calculated?

Parking lots; A survey of autos parked in student and staff lots at a large university classified the brands by country of origin, as seen in the table

                               Driver

                       Student      Staff

American         104            105

European         33               11

Asian                55               48

a) What percentage of all cars surveyed wcre American?

b) What percentage of the American cars were owned by students?

c) What percen of the students owned American

d) What is the marginal distribution of origin ?

e) What is the condition of drivers American cars?

f) Do you think that the origin of the car is independent of the type of driver? Explain

You are a real estate owner in Bloomington Indiana and you have rented a house to students. You expect to make 6% per year on this leasehold investment. The terms of the lease are for 24 months and the rent is due at the beginning of the month. Your savvy renters are Kelley students and they request that the rent be paid, instead, at the end of the month. How much more will the investor receive as a result of payments at the beginning of the month rather than the student's proposed payments at the end of the month over the entire life of the lease? The monthly rent payment is $2800.

a. $1800

b. $162.67

c. $2108.46

d. $315.88

e. $1408.49

A certain chemistry instructor felt that there were some "dry-labbers" in the chemistry course. ["Dry-labbers" think they know the answer to a lab experiment, and give their expected answer without doing the experiment--which isn't fair to the others in the lab!] So, all students in the lab were asked to determine the boiling point of pure water contained in a flask labeled "pure water." The "pure water" was actually a very concentrated calcium dichloride solution. Three students were caught not actually doing the experiment and given F's for their experiment. Explain how the chemistry instructor was able to catch the dishonest "dry-labbers."

The director of admissions at the University at the University of Maryland, University College is concerned about the high cost of textbooks for the students each semester. A sample of 25 students enrolled in the university indicates that x(bar) = $315.40 and s = $43.20.

A mean that is not in a confidence interval is rejected by the confidence interval, and we say the evidence against the mean is significant. At the 0.10 level of significance, is there evidence against mean $300?

1. No, because 300 is below the lower limit of the confidence interval
2. Yes, because 300 is below the lower limit of the confidence interval
3. No because 300 is in the confidence interval
4. Yes, because 300 is in the confidence interval