Problem 1) The director of the admissions at a large university advises parents of incoming students about the cost of textbooks during a typical semester. He selected a sample of 100 students and recorded their textbook expenses for the semester. He then computed a sample mean cost of $315.40 and a sample standard deviation of $43.20. Using the .01 level of significance, is there evidence that the population mean is above $300? Problem 2) An article in The Wall Street Journal implies that more than half of the all Americans would prefer being given $100 rather than a day off from work. This statement is based on the survey conducted by American Express Incentive (n=1040, X=593). a) At the 0.05 level of significance, is there evidence based on the survey data that more than half of all Americans would rather have $100 than a day off from work? b) Compute the p-value and interpret its meaning. Problem 3) The director of training for an electronic equipment company manufacturer is interested in determining whether different training methods have an effect on the productivity of assembly-line employees. She randomly assigns 42 recently hired employees into two groups of 21. The first group receives a computer - assisted, individual - based training program. Upon completion of the training, the employees are evaluated on the time (in seconds) it takes to assemble a part. The results are in the data file attached.

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