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A joint project of the U.S. Census Bureau and the National Science Foundation shows that people with a bachelor's degree who transferred from a community college earn less than those who start at a four-year school (USA TODAY, March 17, 2009). Previous studies referred to this occurrence as a "community college penalty." Lucille Barnes wonders if a similar pattern applies to her university. The accompanying table shows the average salary of 100 graduates with an associate degree and the average salary of 100 graduates with no associate degree. Lucille believes that the population standard deviation is for graduates with an associate degree and for graduates with no associate degree.
a. Set up the hypotheses to test if the report's conclusion also applies to Lucille's university.
b. Calculate the value of the test statistic and the -value.
c. At the significance level, can we conclude that there is a "community college penalty" at Lucille's university?
Cheese, Inc., is one of the world's largest cheese store chains. Shown below are selected items adapted from a recent Cheese, Inc., balance sheet. (Dollar amounts are in the millions.)
c. From these computations, are you able to conclude whether Cheese is a good credit risk for short-term creditors or on the brink of bankruptcy? Explain.
A survey of enrollment at 35 community colleges across the United States yielded the following figures:
6414; 1550; 2109; 9350; 21828; 4300; 5944; 5722; 2825; 2044; 5481; 5200; 5853; 2750; 10012; 6357; 27000; 9414; 7681;
A school with an enrollment of 8000 would be how many standard deviations away from the mean?
Use the following information to answer the next two exercises. the number of days per week that 100 clients use a particular exercise facility.