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 ($) of Middle Income Countries 25.8057 37.4511 51.915 43.6952 47.8506 43.7178 58.0767 41.1648 38.0793 37.7251 39.6553 42.0265 48.6159 43.8555 49.1361 61.9281 41.9543 44.9346 46.0521 48.3652 43.6252 50.9866 59.1724 39.6282 33.6074 21.6643 Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions: (i) Determine sample mean x :i Determine sample mean x : Enter in decimal form to nearest ten-thousandth. Do not enter units of measure. Examples of correctly entered answers: 0.0015 0.0000 136.7000 99.0070 36.9128
The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013): Table: Economic Dynamism ($) 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: (i) Determine sample mean x :i Determine sample mean x : Enter in decimal form to nearest ten-thousandth. Do not enter units of measure. Examples of correctly entered answers: 0.0015 0.0000 136.7000 99.0070 36.9128
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 ($) of Middle Income Countries 25.8057 37.4511 51.915 43.6952 47.8506 43.7178 58.0767 41.1648 38.0793 37.7251 39.6553 42.0265 48.6159 43.8555 49.1361 61.9281 41.9543 44.9346 46.0521 48.3652 43.6252 50.9866 59.1724 39.6282 33.6074 21.6643 Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions: (i) Determine sample mean x :i Determine sample mean x : Enter in decimal form to nearest ten-thousandth. Do not enter units of measure. Examples of correctly entered answers: 0.0015 0.0000 136.7000 99.0070 36.9128
The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013):
Table:Economic Dynamism ($) 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:
(i) Determine sample mean x :i Determine sample mean x :
Enter in decimal form to nearest ten-thousandth. Do not enter units of measure. Examples of correctly entered answers:
0.0015 0.0000 136.7000 99.0070 36.9128
(ii)Determine sample standard deviation s :
Enter in decimal form to nearest ten-thousandth. Examples of correctly entered answers:
0.0001 0.0020 0.5000 5.3070 1.7157
(iii) Determine degrees of freedom dfvalue:
Enter value as whole number
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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