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20 economists were sampled and asked to predict if the national economy would improve during the next twelve months. Eleven of the economists predicted an increase, two economists predicted no change, and seven economists predicted a decrease in the economy. Conduct a hypothesis test at the 0.10 significance level to determine if the majority of economists predict an increase. The null hypothesis is:
Accounts Receivable
The money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Face Value
The nominal or dollar value printed on a security such as a bond or stock, representing its legal value.
Note
A financial instrument acknowledging debt, with terms including interest rate and repayment schedule.
Short-Term Notes Receivable
Current assets representing written promises for amounts to be received within a short period, typically within a year.
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