20 Economists Were Sampled and Asked to Predict If the National

question 30

Multiple Choice

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 test statistic is:

• A) 0.707
• B) 1.179
• C) 1.707
• D) 0.179

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Definitions:

Matched Pairs

A study design in which subjects are paired based on specific characteristics, with one in each pair receiving treatment and the other not.

Blocking

A technique in experimental design used to reduce the effects of nuisance variables by grouping subjects into blocks based on these variables.

Experimental Unit

The smallest division of the experimental material such that any two units may receive different treatments during the experiment.

Psychology Class

An academic course focusing on the study of the mind and behavior, covering topics from mental functions to social interactions.