Question: Suppose that in a certain year, it was reported that the variance in GMAT scores was 14,690. At a recent summit, a group of economics

Suppose that in a certain year, it was reported that the variance in GMAT scores was 14,690. At a recent summit, a group of economics professors met to discuss the GMAT performance of undergraduate students majoring in economics. Some expected the variability in GMAT scores achieved by undergraduate economics students to be greater than the variability in GMAT scores of the general population of GMAT takers. However, others took the opposite view. Suppose the following are GMAT scores for 51 randomly selected undergraduate students majoring in economics.

345 749 427
765 336 777
663 451 785
452 711 544
453 330 718
462 585 658
550 576 773
572 629 591
481 574 510
628 532 411
702 640 686
606 510 509
617 576 546
392 512 573
794 690 581
527 329 451
666 377 720

(a)

Compute the mean, variance, and standard deviation of the GMAT scores for the 51 observations. (Round your answers to two decimal places.)

x=s2=s=

(b)

Develop hypotheses to test whether the sample data indicate that the variance in GMAT scores for undergraduate students majoring in economics differs from the general population of GMAT takers.

H0: 2 14,690

Ha: 2 < 14,690

H0: 2 < 14,690

Ha: 2 14,690

H0: 2 14,690

Ha: 2 > 14,690

H0: 2 > 14,690

Ha: 2 14,690

H0: 2 = 14,690

Ha: 2 14,690

(c)

Use = 0.05 to conduct the hypothesis test formulated in part (b).

Find the value of the test statistic. (Round your answer to three decimal places.)

Find the p-value. (Round your answer to four decimal places.)

p-value =

What is your conclusion?

Reject H0. We cannot conclude the variance in GMAT scores differs from the general population of GMAT takers.Reject H0. We can conclude the variance in GMAT scores differs from the general population of GMAT takers. Do not reject H0. We can conclude the variance in GMAT scores differs from the general population of GMAT takers.Do not reject H0. We cannot conclude the variance in GMAT scores differs from the general population of GMAT takers.

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