Y7

More than 200,000 people worldwide take the GMAT examination each year. GMAT scores are N(527, 300). A simple random sample of 50 students from ECON 2040 take the GMAT and achieve a mean score of 531.5. Perform a hypothesis test to determine whether the average score on the GMAT for ECON 2040 students is better than the worldwide score using an alpha = 0.10 level of significance. The steps are as follows: 1. Write the hypothesis being tested. li. Calculate the test statistic for the hypothesis test. ili. Use the Standard Normal Cumulative Probability Table to determine the p-value. Iv. Use R to determine the p-value. Include the R code and p-value in your answer. v. Use the hypothesis test to make a conclusion. Please be sure to relate your conclusion to the question and write in full sentences