The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013).

Table: Economic Dynamism of Middle Income Countries

25.8057

37.4511

51.915

43.6952

47.8506

43.7178

58.0767

41.1648

38.0793

37.7251

39.6553

42.0265

48.6159

43.8555

49.1361

61.9281

41.9543

44.9346

46.0521

48.3652

43.6252

50.9866

59.1724

39.6282

33.6074

21.6643

Countries that are considered high-income have a mean economic dynamism of 60.29. Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries? Test at the 5% level.

(i) Which of the following statements correctly defines the null hypothesis H_O?

A. μ < $60.29

B. p < $60.29

C. μ = $60.29

D. p = $60.29

Enter letter corresponding to correct answer

Question

The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013).

Table: Economic Dynamism of Middle Income Countries

25.8057	37.4511	51.915	43.6952	47.8506	43.7178	58.0767
41.1648	38.0793	37.7251	39.6553	42.0265	48.6159	43.8555
49.1361	61.9281	41.9543	44.9346	46.0521	48.3652	43.6252
50.9866	59.1724	39.6282	33.6074	21.6643

Countries that are considered high-income have a mean economic dynamism of 60.29. Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries? Test at the 5% level.

(i) Which of the following statements correctly defines the null hypothesis H_O?

A. μ < $60.29

B. p < $60.29

C. μ = $60.29

D. p = $60.29

Enter letter corresponding to correct answer

(ii) Which of the following statements correctly defines the alternative hypothesis H_A?

A. μ < $60.29

B. p < $60.29

C. μ = $60.29

D. p = $60.29

Enter letter corresponding to correct answer

(iii) Enter the level of significance α used for this test:

Enter in decimal form. Examples of correctly entered answers: 0.01 0.02 0.05 0.10

(iv) Determine sample mean x :iv Determine sample mean x :

Enter answer to nearest ten-thousandth, without "$" sign. Examples of correctly entered answers:

11.2385 0.0079 3.0500 7.4000

(v) Determine sample standard deviation s :v Determine sample standard deviation s :

Enter in decimal form to nearest thousandth. Do not enter "$" sign. Examples of correctly entered answers:

0.002 9.050 11.300 210.715

(vi) Determine degrees of freedom df

Enter answer as integer number without sign

(vii) Calculate and enter test statistic

Enter value in decimal form rounded to nearest ten-thousandth, with appropriate sign (no spaces). Examples of correctly entered answers:

–2.0140 –0.0307 +0.6000 +1.0009

(viii) Using tables, calculator, or spreadsheet: Determine and enter p-value corresponding to test statistic.

Enter value in decimal form rounded to nearest thousandth. Examples of correctly entered answers:

0.000 0.001 0.030 0.600 0.814 1.000

(ix) Comparing p-value and α value, which is the correct decision to make for this hypothesis test?

A. Reject H_o

B. Fail to reject H_o

C. Accept H_o

D. Accept H_A

Enter letter corresponding to correct answer.

(x) Select the statement that most correctly interprets the result of this test:

A. The result is statistically significant at .05 level of significance. Evidence supports the claim that the mean economic dynamism for a middle-income country is less than 60.29, the mean for high-income countries.

B. The result is statistically significant at .05 level of significance. There is not enough evidence to support the claim that the mean economic dynamism for a middle-income country is less than 60.29, the mean for high-income countries.

C. The result is not statistically significant at .05 level of significance. Evidence supports the claim that the mean economic dynamism for a middle-income country is less than 60.29, the mean for high-income countries.

D. The result is not statistically significant at .05 level of significance. There is not enough evidence to support the claim that the mean economic dynamism for a middle-income country is less than 60.29, the mean for high-income countries.

Enter letter corresponding to most correct answer

Accepted Answer

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