Dean Halverson recently read that full-time college students study 20 hours each week. She decides to do a study at her university to see if there is evidence to show that this is not true at her university. A random sample of 32 students were asked to keep a diary of their activities over a period of several weeks. It was found that the average number of hours that the 32 students studied each week was 19.1 hours. The sample standard deviation of 4.2 hours.

Find the p-value.

round to four decimal points

Problem 2: You have applied to two universities X and Y for graduate admission. There is a .25 chance that you are going to get into X and .20 chance that you are going to get into Y. Keep in mind that admission into the universities is independent events.

a)    What is the probability that you are going to get into both universities?

b)     What is the probability that you are going to get into at least one university?

c)    What is the probability that you are going to get into any one of the university?

d)    Are getting into those universities mutually exclusive?

The average GRE score at the University of Pennsylvania for the incoming class of 2016-2017 was 311. Assume that the standard deviation was 13.4. If you select a random sample of 40 students, what is the probability that the sample mean will be less than 313? Round your answer to three decimal places.

The average GRE score at the University of Pennsylvania for the incoming class of 2016-2017 was 311. Assume that the standard deviation was 13.4. If you select a random sample of 40 students, what is the standard error of the mean? Round your answer to three decimal places.

Five years ago the average university student owed $19,000 in student-loan debt at the time of graduation. With all the cuts in funding, it is suspected that this amount has gone up. A survey of 45 recent university graduates revealed an average student-loan debt of $20,000. Assume that the population standard deviation is $2,500.

a) Define the parameter of interest (in words), and then formulate the null hypothesis and the alternative hypotheses.

b) Find the p-value and make a conclusion in the context of the question. Use a level of significance of 5% (i.e. α = 0.05).

LIN Ltd is a US-based retailer and it uses LIFO method for valuation of inventory. Following information is obtained from its inventory records for 2019:

You are require to answer the following (no calculations are necessary):

a) In light of US-GAAP, what are your key observations regarding cost of inventory balance and units sold?

b) What are the potential consequences of current inventory management on profitability and availability of inventory?

Theory tells us that the real interest rate equals the marginal product
of capital less the depreciation rate. Theory also tells us that the marginal
product of capital decreases when the capital-labor ratio increases. We know
from observation that the capital-labor ratio has been rising steadily for over a
century, but that the real interest rate and the depreciation rate have remained
relatively constant. How can all of these statements be correct? Explain.
Hint: One possible answer uses technological change in an important way.
Graphing the production function for different technology levels may be helpful.

Given the following information

n= 5 Σ X_t = 30 Σ Y_t = 172 Σ Y_t X_t = 980

Σ X²_t = 205 Σ Y²_t = 5162

Find the least squares estimates of α and β from

Y_t = α + βX_t + u_t

The sum of squared residuals is 45.2691. What does the SSR tell us in general?

Find the unbiased estimate of the variance of u_t. What does S² tell us in general?

Test H₀: β = 0 against H₁: β > 0 at the 5% level of significance.

Calculate the 95% confidence interval for β.

Calculate the R².