Twenty Economists Were Sampled and Asked to Predict If the National

question 24

Multiple Choice

Twenty economists were sampled and asked to predict if the national economy would improve during the next 12 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 correct analysis would be a ________.

• A)sign test based on the binomial distribution
• B)sign test based on the standard normal distribution
• C)chi-square test
• D)Wilcoxon signed-rank test

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Definitions:

Defense Plants

Industrial facilities that produce military equipment and supplies for a country's defense forces.

Arsenal of Democracy

A term coined by President Franklin D. Roosevelt during World War II, referring to the idea that the United States had the responsibility to supply Allied nations with the materials needed to defeat the Axis Powers.

Doolittle Raid

A military operation during World War II in which U.S. aircraft bombed Tokyo and other Japanese cities in 1942, the first air raid to strike the Japanese Home Islands.

Battle of Midway

A pivotal World War II battle in June 1942, where the United States Navy decisively defeated an attacking fleet of the Japanese Navy, marking a turning point in the Pacific Theater of the war.