Twenty Economists Were Sampled and Asked to Predict If the National

question 18

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 null hypothesis is ________.

• A)H₀ : π = 0.5
• B)H₀ : π ≠ 0.5
• C)H₀ : π ≤ 0.5
• D)H₀ : π ≥ 0.5