Explain why a correlation is the most appropriate statistic.

Assignment 1 Grading Criteria

Maximum Points

Explain why a correlation is the most appropriate statistic.

36

List the null and alternate hypothesis.

20

Compute and correctly present the correlation between student anxiety scores and number of study hours.

36

List the alpha, statistical significance of the results and the effect size. Provide an interpretation of the results.

60

List the probability of a type I error and explain what it means.

36

Explain how the same information would be set up to allow one to conduct a t-test and an ANOVA.

48

Writing Components:

Organization: Introduction, Thesis, Transitions, Conclusion

Usage and Mechanics: Grammar, Spelling, Sentence structure

APA Elements: Attribution, Paraphrasing, Quotations

Style: Audience, Word Choice

64

Total:

What is the correlation between student anxiety scores and number of study hours?

1

2

Why is a correlation the most appropriate statistic?
What is the null and alternate hypothesis?
What is the correlation between student anxiety scores and number of study hours? Select alpha and interpret your findings. Make sure to note whether it is significant or not and what the effect size is.
How would you interpret this?
What is the probability of a type I error? What does this mean?
How would you use this same information but set it up in a way that allows you to conduct a t-test? An ANOVA?

What is the difference between explicit and implicit cost?

Complete Table 1. Summarize your calculations and use Microsoft Excel.
Using Excel, draw one graph showing average fixed costs, average variable costs, average total costs, marginal revenue, and marginal costs.
Using the data in the table and on your graph, what is the profit maximizing, or loss minimizing level of output? Explain and justify your answers.
What is a normal profit? What is an economic profit? Explain your answer using examples. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
Given the data in the table and the graph, how could you determine or identify the optimal plant size?
What is the difference between explicit and implicit cost? Explain your answers.
How would we determine if a cost is a fixed cost or a variable cost?

Given the data in the table and the graph, how could you determine or identify the optimal plant size?

 

Complete Table 1. Summarize your calculations and use Microsoft Excel.
Using Excel, draw one graph showing average fixed costs, average variable costs, average total costs, marginal revenue, and marginal costs.
Using the data in the table and on your graph, what is the profit maximizing, or loss minimizing level of output? Explain and justify your answers.
What is a normal profit? What is an economic profit? Explain your answer using examples. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
Given the data in the table and the graph, how could you determine or identify the optimal plant size?
What is the difference between explicit and implicit cost? Explain your answers.
How would we determine if a cost is a fixed cost or a variable cost?

What is the difference between explicit and implicit cost?

Complete Table 1. Summarize your calculations and use Microsoft Excel.
Using Excel, draw one graph showing average fixed costs, average variable costs, average total costs, marginal revenue, and marginal costs.
Using the data in the table and on your graph, what is the profit maximizing, or loss minimizing level of output? Explain and justify your answers.
What is a normal profit? What is an economic profit? Explain your answer using examples. Are normal profits being earned in this example? Are economic profits present for this firm in this example? Explain your answers.
Given the data in the table and the graph, how could you determine or identify the optimal plant size?
What is the difference between explicit and implicit cost? Explain your answers.
How would we determine if a cost is a fixed cost or a variable cost?