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 (iv) Determine t score corresponding to desired confidence level Enter value in decimal form rounded to nearest hundredth. Examples of correctly entered answers: 2.01 0.37 0.60 0.00 (v) Determine error bound of the mean: Enter value in decimal form rounded to nearest ten-thousandth. Examples of correctly entered answers: 0.0000 0.0003 3.0060 2.0700 11.5000 27.9143 13.0000 (vi) Determine the confidence interval. Enter lower bound value to nearest ten-thousandth, followed by < , followed by "p" for proportion or "m" for mean, followed by <, followed by upper bound value to nearest ten-thousandth. No spaces between any characters. Do not use italics. Examples of correctly entered answers: 0.7000

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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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

(iv) Determine t score corresponding to desired confidence level

Enter value in decimal form rounded to nearest hundredth. Examples of correctly entered answers:

2.01 0.37 0.60 0.00

(v) Determine error bound of the mean:

Enter value in decimal form rounded to nearest ten-thousandth. Examples of correctly entered answers:

0.0000 0.0003 3.0060 2.0700

11.5000 27.9143 13.0000

(vi) Determine the confidence interval.

Enter lower bound value to nearest ten-thousandth, followed by < , followed by "p" for proportion or "m" for mean, followed by <, followed by upper bound value to nearest ten-thousandth. No spaces between any characters. Do not use italics. Examples of correctly entered answers:

0.7000<p<0.8010 13.1340<m<13.9113 -9.7659<m<-8.1466

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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