Based on the average predictions of 45 economists, the U.S. gross domestic product (GDP) will expand by
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Based on the average predictions of 45 economists, the U.S. gross domestic product (GDP) will expand by 2.8% this year. Suppose the sample standard deviation of their predictions was 1%. At the 5% significance level, test if the mean forecast GDP of all economists is less than 1%.
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Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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