**Scenario:**Suppose that major new legislation was recently passed by the government. Fourteen economists were sampled and asked to predict if the national economy would improve during the next 12 months compared to its present state as a result of this legislation. Eight of the economists predicted an improvement, two economists predicted no change, and four economists predicted a decline in the economy. Conduct a hypothesis test at the 0.10 significance level to determine if the majority of economists predict an improvement in the economy. What is the decision rule?**Multiple Choice:**1. Reject \( H_0 \) if the number of economists predicting an improvement is \( \geq 8 \).2. Reject \( H_0 \) if the number of economists predicting an improvement is \( \geq 11 \).3. Reject \( H_0 \) if the number of economists predicting an improvement is \( \geq 10 \).4. Reject \( H_0 \) if the number of economists predicting an improvement is \( \geq 9 \).

Here use critical value from given significance level

Answered: county median, one has an income equal…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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county median, one has an income equal to the county median, and two have a household income above the county median. She wishes to conduct her test using the 0.05 significance level. What should the researcher conclude? Multinle Choice