Consider the following data, where GDP values are measured in millions of dollars, to answer the next seven questions:
-What was the growth rate of nominal GDP from 2010 to 2011? Round to the nearest second decimal.
Definitions:
Quasidirectional
Pertains to a tendency or trend that is not strictly linear or unidirectional but suggests a general direction.
Test Statistic
A calculated value used in hypothesis testing that helps to determine whether to reject the null hypothesis.
Pooled Variance
Pooled variance is a method used to estimate the variance of two or more groups by combining their variances, assuming they have the same variance but not necessarily the same mean.
Degrees Of Freedom
The number of independent values or quantities which can vary in an analysis without breaking any constraints.
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