Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions:
The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013):
Table: Economic Dynamism ($) of Middle Income Countries
|
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 |
Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions:
(vii) Using the confidence interval, select the correct description of the result of the survey:
A. We estimate with 95% confidence that the true proportion mean economic dynamism for middle-income countries is between $40.21 and $47.54.
B. We estimate with 95% confidence that the proportional economic dynamism for middle-income countries is between $40.21 and $47.54.
C. We estimate with 95% confidence that the population amount of economic dynamism for middle-income countries is between $40.21 and $47.54.
D. We estimate with 95% confidence that the true population mean economic dynamism for middle-income countries is between $40.21 and $47.54.
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