Question 3 options:

The economic dynamism, which is the index of productive growth(in dollars), for countries that are designated by the World Bankas middle-income are in following table (\"SOCR data 2008,\"2013).

Table: Economic Dynamism of Middle IncomeCountries

25.8057	37.4511	51.915	43.6952	47.8506	43.7178	58.0767
41.1648	38.0793	37.7251	39.6553	42.0265	48.6159	43.8555
49.1361	61.9281	41.9543	44.9346	46.0521	48.3652	43.6252
50.9866	59.1724	39.6282	33.6074	21.6643

Countries that are considered high-income have a mean economicdynamism of 60.29. Do the data show that the mean economic dynamismof middle-income countries is less than the mean for high-incomecountries? Test at the 5% level.

(i) Which of the following statements correctly definesthe null hypothesis H_O?

A.  μ <$60.29  

B.  p < $60.29

C.  μ = $60.29

D.  p = $60.29

(ii) Which of the following statements correctly definesthe alternative hypothesis H_A?

A.  μ <$60.29  

B.  p < $60.29

C.  μ = $60.29

D.  p = $60.29

(iii) Enter the level of significance α usedfor this test:

Enter in decimal form. Examples of correctly enteredanswers:  0.01    0.02   0.05    0.10

(iv)  Determine sample mean x

Enter answer to nearest ten-thousandth, without \"$\" sign.Examples of correctly entered answers:

11.2385      0.0079    3.0500      7.4000

(v)  Determine sample standard deviation s:

Enter in decimal form to nearest thousandth. Do not enter\"$\" sign. Examples of correctly entered answers:

    0.002    9.050    11.300   210.715

(vi)  Determine degrees offreedom df

Enter answer as integer number without sign

(vii) Calculate and enter test statistic

Enter value in decimal form rounded to nearestten-thousandth, with appropriate sign (no spaces). Examples ofcorrectly entered answers:

–2.0140     –0.0307        +0.6000       +1.0009

(viii) Using tables, calculator, or spreadsheet:Determine and enter p-value corresponding to teststatistic.

Enter value in decimal form rounded to nearest thousandth.Examples of correctly entered answers:

0.000     0.001    0.030     0.600     0.814 1.000

(ix) Comparing p-value and α value, which isthe correct decision to make for this hypothesis test?

A. Reject H_o

B. Fail to reject H_o

C. Accept H_o

D. Accept H_A

(x) Select the statement that most correctly interpretsthe result of this test:

A. The result is statistically significant at .05 levelof significance. Evidence supports the claim that the mean economicdynamism for a middle-income country is less than 60.29, the meanfor high-income countries.

B. The result is statistically significant at .05 levelof significance. There is not enough evidence to support the claimthat the mean economic dynamism for a middle-income country is lessthan 60.29, the mean for high-income countries.

C. The result is not statistically significant at .05level of significance. Evidence supports the claim that the meaneconomic dynamism for a middle-income country is less than 60.29,the mean for high-income countries.

D. The result is not statistically significant at .05level of significance.   There is not enough evidence tosupport the claim that the mean economic dynamism for amiddle-income country is less than 60.29, the mean for high-incomecountries.

Enter letter corresponding to most correct answer