6.1 Suppose on the basis of interviews with 100 consumers and retailers, it is found that average...
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6.1 Suppose on the basis of interviews with 100 consumers and retailers, it is found that average price changes for two commodities are given by x’ = (4,–3), and the sample covariance matrix for the 100 independent observations is given by Supposing = N(θ,Σ) Σ > 0, for independent observations X1,...,X100, test the hypothesis H : θ’ = θ0’ = (2,–2), versus the alternative hypothesis A : θ’ ≠ θ0’, at the 1 percent level of significance.
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