20 Economists Were Sampled and Asked to Predict If the National

question 74

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. Based on the analysis, we would conclude that:

• A) The economists favor an increase in the economy
• B) The economists favor a decrease in the economy
• C) The economists favor no change in the economy
• D) No conclusion can be reached

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Definitions:

Macular Degeneration

A substantial loss of cells in the center area of the retina (the macula), causing blurring and eventual loss of central vision; its onset is influenced by heredity and environmental factors.

Carotenoids

A class of pigments found naturally in plants, responsible for their yellow, orange, and red colors, and beneficial for human health.

Eye Exercises

Activities designed to improve vision or eye health, often used to correct or alleviate visual disturbances and eye strain.

Vitamins A

A group of fat-soluble retinoids important for vision, skin health, and immune function.