Tutor O-rama claims that their services will raise student SAT math scores at least 50 points. The average score on the math portion of the SAT is μ = 350 and σ = 35. The 100 students who completed the tutoring program had an average score of 385 points. Is the average score of 385 points significant at the 5% level? Is it significant at the 1% level? Explain why or why not.  PLEASE REWORD THESE PARAGRAPHS IN YOUR OWN WORDS. PLEASE DO NOT USE THE SAME WORDS AS IN THE PARAGRAPHS. THANKS. · 1-According to Lisa Huddlestun, "Macroeconomics is the study of behaviors and activities of the economy as a whole, looks at such areas as the Federal Reserve System, unemployment, gross domestic product (GDP), and business cycles" (Huddlestun 2015.) The Federal Reserve System's most important attribute is the regulation of the supply of money in circulation. This is important to the economy because it influences interest rates, money available for loans, and the overall price level of the economy. Unemployment could mean a loss of income for individuals and lost production for the economy. There are three type of unemployment; frictional unemployment, cyclical unemployment, and structural unemployment. Frictional includes people that have quit their jobs or have been fired causing them to be unemployed. Cyclical is related to the economy, such as being laid off during a recession. Structural unemployment is when someone hasn't been hired because they do not have the required skills or do not live in a high employment area. The gross domestic product (GDP) is determined by total economic spending. Economic spending includes consumer, business, and government spending. Lisa states, GDP is "the market value of all final products produced in a year's time" (Huddlestun 2015.) Economic performance is measured by GDP. An increase in GDP means the economy is growing. GDP also determines if there will be inflation or not. Policy makers look at past and present GDP to formulate policies to help economic growth. If we have economic growth then we could have an increase in production of goods and services. Microeconomics according to Lisa is, "the individual components of the economy, such as costs of production, maximizing profits, and the different market structures" (Huddlestun 2015.) Businesses are the suppliers of goods and services the individual wants. Most businesses want to make a profit, or maximize their profits. The level of output must be determined to help result in the greatest profit.  Cost of production has a huge part in this. There are two types of cost production; variable and fixed costs. Fixed costs are costs that do not vary with the level of output, for example a rent payment.  Variable costs are cost that change with level of output, like wages and raw material. · 2-This was a great video for the theory of supply and demand.  I was able to relate particularly about the housing market as someone who was a real estate investor in 2005.  I ...

1. Tutor O-rama claims that their services will raise student SAT
math scores at least 50 points. The average score on the math
portion of the SAT is μ = 350 and σ = 35. The 100 students who
completed the tutoring program had an average score of 385
points. Is the average score of 385 points significant at the 5%
level? Is it significant at the 1% level? Explain why or why
not.
PLEASE REWORD THESE PARAGRAPHS IN YOUR OWN
WORDS. PLEASE DO NOT USE THE SAME WORDS AS IN
THE PARAGRAPHS. THANKS.
· 1-According to Lisa Huddlestun, "Macroeconomics is the
study of behaviors and activities of the economy as a whole,
looks at such areas as the Federal Reserve System,
unemployment, gross domestic product (GDP), and business
cycles" (Huddlestun 2015.) The Federal Reserve System's most
important attribute is the regulation of the supply of money in
circulation. This is important to the economy because it
influences interest rates, money available for loans, and the
overall price level of the economy. Unemployment could mean a
loss of income for individuals and lost production for the
economy. There are three type of unemployment; frictional
unemployment, cyclical unemployment, and structural
unemployment. Frictional includes people that have quit their
jobs or have been fired causing them to be unemployed.
Cyclical is related to the economy, such as being laid off during
a recession. Structural unemployment is when someone hasn't
been hired because they do not have the required skills or do
not live in a high employment area. The gross domestic product

2. (GDP) is determined by total economic spending. Economic
spending includes consumer, business, and government
spending. Lisa states, GDP is "the market value of all final
products produced in a year's time" (Huddlestun 2015.)
Economic performance is measured by GDP. An increase in
GDP means the economy is growing. GDP also determines if
there will be inflation or not. Policy makers look at past and
present GDP to formulate policies to help economic growth. If
we have economic growth then we could have an increase in
production of goods and services. Microeconomics according to
Lisa is, "the individual components of the economy, such as
costs of production, maximizing profits, and the different
market structures" (Huddlestun 2015.) Businesses are the
suppliers of goods and services the individual wants. Most
businesses want to make a profit, or maximize their profits. The
level of output must be determined to help result in the greatest
profit. Cost of production has a huge part in this. There are two
types of cost production; variable and fixed costs. Fixed costs
are costs that do not vary with the level of output, for example a
rent payment. Variable costs are cost that change with level of
output, like wages and raw material.
· 2-This was a great video for the theory of supply and demand.
I was able to relate particularly about the housing market as
someone who was a real estate investor in 2005. It was a real
experience of supply and demand. Briefly in video, the
breakdown of three concepts are covered supply curve, demand
curve, and equilibrium. The supply curve is an illustration for
supply and price relationship. When prices go up, supplies
increase as well and vice versa. The demand curve is an
illustration for demand and price relationship. When prices go
up, demand declines, then further when prices decline, demand
increases. Equillibrim is a balance of both curves.

3. PLEASE REWORD
THESE PARAGRAPHS
IN YOUR OWN WORDS. PL
EASE DO
NOT USE THE SAME WORDS AS IN THE PARAGRAPHS.
THANKS.
o
1
-
According to Lisa Huddlestun, "Macroeconomics is the study of
behaviors and activities of
the economy as a whole, looks at such areas as the Federal
Reserve System,
unemployment, gross domestic product (GDP), and business
cycles" (Huddlestun 2015.)
The Fed
eral Reserve System's most important attribute is the regulation
of the supply of
money in circulation. This is important to the economy because
it influences interest rates,
money available for loans, and the overall price level of the
economy. Unemployme
nt could
mean a loss of income for individuals and lost production for
the economy. There are three
type of unemployment; frictional unemployment, cyclical
unemployment, and structural
unemployment. Frictional includes people that have quit their
jobs or h
ave been fired causing

4. them to be unemployed. Cyclical is related to the economy, such
as being laid off during a
recession. Structural unemployment is when someone hasn't
been hired because they do
not have the required skills or do not live in a high emp
loyment area. The gross domestic
product (GDP) is determined by total economic spending.
Economic spending includes
consumer, business, and government spending. Lisa states, GDP
is "the market value of all
final products produced in a year's time" (Huddles
tun 2015.) Economic performance is
measured by GDP. An increase in GDP means the economy is
growing. GDP also
determines if there will be inflation or not. Policy makers look
at past and present GDP to
formulate policies to help economic growth. If we have
economic growth then we could have
an increase in production of goods and services.
Microeconomics according to Lisa is, "the
individual components of the economy, such as costs of
production, maximizing profits, and
the different market structures" (Hudd
lestun 2015.) Businesses are the suppliers of goods
and services the individual wants. Most businesses want to
make a profit, or maximize their
profits. The level of output must be determined to help result in
the greatest profit.
Cost of
production has a
huge part in this. There are two types of cost production;
variable and fixed

5. costs. Fixed costs are costs that do not vary with the level of
output, for example a rent
payment.
Variable costs are cost that change with level of output, like
wages and raw
material.
o
2
-
This was a great video for the theory of supply and demand.
I was able to relate
particularly about the housing market as someone who was a
real estate investor in 2005.
It
was a real experience of supply and demand.
Briefly in video, the
breakdown of three
concepts are covered supply curve, demand curve, and
equilibrium.
The supply curve is an
illustration for supply and price relationship.
When prices go up, supplies increase as well
and vice versa. The demand curve is an illustration f
or demand and price relationship.

6. When
prices go up, demand declines, then further when prices decline,
demand
increases.
Equillibrim is a balance of both curves.
PLEASE REWORD THESE PARAGRAPHS IN YOUR OWN
WORDS. PLEASE DO
NOT USE THE SAME WORDS AS IN THE PARAGRAPHS.
THANKS.
o 1-According to Lisa Huddlestun, "Macroeconomics is the
study of behaviors and activities of
the economy as a whole, looks at such areas as the Federal
Reserve System,
unemployment, gross domestic product (GDP), and business
cycles" (Huddlestun 2015.)
The Federal Reserve System's most important attribute is the
regulation of the supply of
money in circulation. This is important to the economy because
it influences interest rates,
money available for loans, and the overall price level of the
economy. Unemployment could
mean a loss of income for individuals and lost production for
the economy. There are three
type of unemployment; frictional unemployment, cyclical
unemployment, and structural
unemployment. Frictional includes people that have quit their
jobs or have been fired causing
them to be unemployed. Cyclical is related to the economy, such

7. as being laid off during a
recession. Structural unemployment is when someone hasn't
been hired because they do
not have the required skills or do not live in a high employment
area. The gross domestic
product (GDP) is determined by total economic spending.
Economic spending includes
consumer, business, and government spending. Lisa states, GDP
is "the market value of all
final products produced in a year's time" (Huddlestun 2015.)
Economic performance is
measured by GDP. An increase in GDP means the economy is
growing. GDP also
determines if there will be inflation or not. Policy makers look
at past and present GDP to
formulate policies to help economic growth. If we have
economic growth then we could have
an increase in production of goods and services.
Microeconomics according to Lisa is, "the
individual components of the economy, such as costs of
production, maximizing profits, and
the different market structures" (Huddlestun 2015.) Businesses
are the suppliers of goods
and services the individual wants. Most businesses want to
make a profit, or maximize their
profits. The level of output must be determined to help result in
the greatest profit. Cost of
production has a huge part in this. There are two types of cost
production; variable and fixed
costs. Fixed costs are costs that do not vary with the level of
output, for example a rent
payment. Variable costs are cost that change with level of
output, like wages and raw
material.

8. o 2-This was a great video for the theory of supply and demand.
I was able to relate
particularly about the housing market as someone who was a
real estate investor in 2005. It
was a real experience of supply and demand. Briefly in video,
the breakdown of three
concepts are covered supply curve, demand curve, and
equilibrium. The supply curve is an
illustration for supply and price relationship. When prices go
up, supplies increase as well
and vice versa. The demand curve is an illustration for demand
and price relationship. When
prices go up, demand declines, then further when prices decline,
demand
increases. Equillibrim is a balance of both curves.