Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. twenty economist were chosen randomly, and asked t

Twenty economist were chosen randomly, and asked to predict if the national economy would improve during...

60.1K

Verified Solution

Question

Statistics

Twenty economist were chosen randomly, and asked to predict ifthe national economy would improve during the next 12 months.Eleven of the economists predicted an improvement, and nineeconomists predicted a decrease in the economy. Conduct ahypothesis test to determine if there is a difference in theprediction for the national economy during the next 12 months. Usethe normal approximation to the Binomial. In addition, assign a “+”sign to “Improvement” and a “-” sign to “Decrease.” Conduct atwo-tailed test at the .05 significance level. Based on theanalysis, what is your conclusion?

Answer & Explanation Solved by verified expert
3.6 Ratings (458 Votes)
Given that Twenty economist were chosen randomly and asked topredict if the national economy would improve during the next 12months    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

On December 1, 2017, Annalise Company had the account balances shown below. Debit Credit Cash $6,800 Accumulated...

Medical Sciences
1.2K views

Provide an example for a virulence bacteriophage, and name the species of the bacterial host and...

Electrical Engineering
1.2K views

2. (a) (i) Explain clearly various processes which explain electric breakdown in vacuum. (ii) Discuss about the...

Advance Math
1.2K views

Solve the LP problem using graphical method. Determine the optimal values of the decision variables and...

Biology
1.2K views

What are the 3 pathways of complement activation For the toolb press ALT 510 Cor...

Biology
1.2K views

The sex chromosomes carry genes for traits that have nothing to do with the sex...

Physics
1.2K views

A 6 kg mass vibrates according to the equation x = 0.62cos7.8t where x is...

Accounting
1.2K views

5-A1 Straightforward Income Statements The Liberty Company had the following manufacturing data for the year...

Accounting
1.2K views

Oriole Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as...

Finance
1.2K views

UESTION 8 A firm should continue to invest in capital budgeting projects until its marginal...

Accounting
1.2K views

Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts....

Accounting
1.2K views

Identify and explain one example of a major company experiencing the legal versus ethical dilemma....