1. A college of business at a major university has implemented a new recruitment program to increase the quality of its MBA students. Previously, the average GMAT score for an MBA student in its program was 550. After the first year of the new recruitment program, the following data is available for GMAT scores of the newest MBA class:
Class size: 105
Mean GMAT score: 560
Sample Standard Deviation: 42
Conduct a test of hypothesis to determine if the mean GMAT score of new MBA students (theoretically, all MBA students from now on with the new recruitment program) is higher than 550. What is the p-value for this test?
0.99 0.014 0.007 0.001
2. The mean size of commercial loans made by a bank has been $60,000 in the past. A recent change in the bank's credit policy allows larger amounts to be borrowed under the same terms. The credit manager now wishes to test whether the mean size of commercial loans made since the policy change is larger than $60,000. A random sample of n = 150 loans made since the policy change had a mean = 68,000, s = 45,000. Test the research hypothesis that the average loan value is greater than $60,000. What is the p-value?
0.98 0.029 0.0147 0.0012
3. A study reported in Science [162, 1234 (1968)] on the effects of smoking marijuana included the following data. Each of nine subjects was given a “digit substitution test”, before and again 15 minutes after a marijuana smoking session. Changes in the number correct from the baseline number (i.e. number correct after smoking marijuana minus number correct before) are given in science.xls. Test the hypothesis that marijuana smoking reduces proficiency in the test. What is the p-value?
0.10 0.05 0.02 0.01
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