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 Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions (iv) Determine t score corresponding to desired confidence level Enter value in decimal form rounded to nearest hundredth. Examples of correctly entered answers: 2.01 0.37 0.60 0.00 (v) Determine error bound of the mean: Enter value in decimal form rounded to nearest ten-thousandth. Examples of correctly entered answers: 0.0000 0.0003 3.0060 2.0700 11.5000 27.9143 13.0000 (vi) Determine the confidence interval. Enter lower bound value to nearest ten-thousandth, followed by < , followed by "p" for proportion or "m" for mean, followed by <, followed by upper bound value to nearest ten-thousandth. No spaces between any characters. Do not use italics. Examples of correctly entered answers: 0.7000

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter4: Eigenvalues And Eigenvectors

Section4.6: Applications And The Perron-frobenius Theorem

Problem 25EQ

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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

Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions

(iv) Determine t score corresponding to desired confidence level

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

2.01 0.37 0.60 0.00

(v) Determine error bound of the mean:

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

0.0000 0.0003 3.0060 2.0700

11.5000 27.9143 13.0000

(vi) Determine the confidence interval.

Enter lower bound value to nearest ten-thousandth, followed by < , followed by "p" for proportion or "m" for mean, followed by <, followed by upper bound value to nearest ten-thousandth. No spaces between any characters. Do not use italics. Examples of correctly entered answers:

0.7000<p<0.8010 13.1340<m<13.9113 -9.7659<m<-8.1466

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