Answered: owns and working-from-home, which made…

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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Question

During the Covid crisis, there were lockdowns and working-from-home, which made collecting data on unemployment more challenging. Researchers from a US University conducted a survey of 1,000 individuals in the labour force to assess rise in unemployment in September 2020. The object was to find out whether the unemployment rate had risen above a benchmark proportion of 5 per cent of the labour force in Scotland. Of the surveyed persons, 60 reported being unemployed in the week prior to the survey.

Conduct a two-tailed test of whether unemployment rate during this period was 5 per cent. Set out your null and alternative hypotheses, significance level, test statistic, assumptions and sampling distribution clearly. Conduct the test and comment on the economic significance of the findings.

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Follow-up Question

Now conduct a one-tailed test of whether unemployment rate during this period exceeded 5 per cent. Set out your null and alternative hypotheses, significance level, test statistic, assumptions and sampling distribution clearly. Conduct the test. Are the findings of the two tests consistent?

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