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Based on the average predictions of 65 economists, the U.S. gross domestic product (GDP) will expand by 2.4% this year. Suppose the sample standard
Based on the average predictions of 65 economists, the U.S. gross domestic product (GDP) will expand by 2.4% this year. Suppose the sample standard deviation of their predictions was 3%. At the 10% significance level, test if the mean forecast GDP of all economists is less than 3%. a. (2pts) Select the null and the alternative hypotheses. Ho: =3; HA:3 Ho: -3:HA: > 3 Ho: =3, HA:
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