A large midwestern public university admits students into its MBA program based on, among other criteria, their GMAT score. The university's MBA program website states that an applicant must have a minimum score of 500 on the GMAT exam to be admitted to the program. To verify the program's adherence to this policy, the records for a sample of 172 current MBA students admitted to the program were examined. Records for these MBA students revealed a mean GMAT score of 485 with a standard deviation of 15.92. Assuming a .05 level of significance, use Excel and MegaStat to answer the following questions to determine whether or not this policy is being enforced. a. State the hypotheses for this analysis. b. Specify the decision rule. c. Calculate the test statistic and p-value.
A large midwestern public university admits students into its MBA program based on, among other criteria, their GMAT score. The university's MBA program website states that an applicant must have a minimum score of 500 on the GMAT exam to be admitted to the program. To verify the program's adherence to this policy, the records for a sample of 172 current MBA students admitted to the program were examined. Records for these MBA students revealed a mean GMAT score of 485 with a standard deviation of 15.92. Assuming a .05 level of significance, use Excel and MegaStat to answer the following questions to determine whether or not this policy is being enforced.
a. State the hypotheses for this analysis.
b. Specify the decision rule.
c. Calculate the test statistic and p-value.
d. Is the GMAT score policy being enforced? Explain your answer using the decision rule, test statistic, and p-value.
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