Is there a projector and speakers?

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Yes.

The Teaching Station is really just a platform for you to access the ceiling-hung digital projector and the wall or ceiling mounted speakers.

The projector sends out an image at 1024x768 pixels, and the sound is mono only (but there are at least 2 speakers).

Volume control is on the touchscreen. Projector brightness is automatic, and cannot be adjusted. If your laptop (particularly on MACs) sends out a dim signal, you will have to manually adjust your display output from the laptop display settings.