Twenty Economists Were Sampled and Asked to Predict If the National

question 82

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:

---

Definitions:

Research Hypothesis

An alternative to the null hypothesis, suggesting a significant difference or effect, that researchers aim to support through their findings.

Research Hypothesis

A specific, testable prediction about what you expect to happen in your study.

Inferential Statistics

The branch of statistics that makes predictions or inferences about a population based on a sample of data drawn from that population.

Probability

The measure or likelihood of a particular event or outcome occurring.