Suppose that major new legislation was recently passed by the government. Fourteen economists were sampled and asked to predict if the nationaleconomy would improve during the next 12 months compared to its present state as a result of this legislation. Eight of the economists predicted animprovement, two economists predicted no change, and four economists predicted a decline in the economy. Conduct a hypothesis test at the 0.10significance level to determine if the majority of economists predict an improvement. The null hypothesis isMultiple ChoiceH0 : π0.5Ho : T = 0.5Ho : T+ 0.5Ho : T< 0.5

Test is that whether the majority of economists predict an improvement.

Answered: Suppose that major new legislation was…

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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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 Reject Ho if the number of economists predicting an improvement is > 8. Reject Ho if the number of economists predicting an improvement is > 11. Reject Ho if the number of economists predicting an improvement is > 10. Reject Ho if the number of economists predicting an improvement is > 9.

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