Questions 33 – 39 concern the following idea: A writer for a…

Question Answered step-by-step Questions 33 – 39 concern the following idea: A writer for a… Questions 33 – 39 concern the following idea:A writer for a magazine on finance and wealth management plans to do a piece on increasing interest rates.  She thinks that the central bank will increase interest rates by at most 2 basis points over the next year.  To support her thinking, she surveys 100 economists and finds that 51 of them agree with her opinion.  In her article, she later writes “Significantly more than half of economists believe that the central bank will increase interest by at most 2 basis points over the next year”.  Is this statement warranted?Let p be the population proportion of economists that think that the central bank will increase interest rates by at most 2 basis points over the next year. 33If you were trying to show support for the writer’s claim, state the necessary null and alternative hypotheses for conducting a hypothesis test.a. H0 : p = 0.5H1 : p ≠ 0.5b. H0 : p ≤ 0.02H1 : p > 0.02c. H0 : p ≤ 0.5H1 : p > 0.5d. H0 : p < 0.5H1 : p ≥ 0.5e. H0 : p ≥ 0.5H1 : p < 0.5  34 Image transcription textME 34 Questions 33 - 39 concern thefollowing ioea: A writer for a magazineon finance and wealth ma... Show more... Show more 35Which (approximate) distribution would be relevant to the test statistic in our hypothesis test?a. N(100,49)b. t99c. N(0,1)d. t100 36Assume the value of the test statistic was found to be 0.2. What would be the associated 1-tailed p-value for this test?  (correct to 4 decimal places). 37Assume that the decision of the test was to retain H0.  Which of the following would be a correct conclusion?a. The data did provide significant evidence to conclude that at most half of economist think that the central bank will increase interest by at most 2 basis points over the next year.b. Since this data is not normally distributed, no conclusion is warranted.c. We proved that only half of economist think that the central bank will increase interest by at most 2 basis points over the next year.d. The data did not provide significant evidence to conclude that more than half of economist think that the central bank will increase interest by at most 2 basis points over the next year.e. The data supports the claim of the writer, there is signifcant evidence that more than half of economist think that the central bank will increase interest by at most 2 basis points over the next year. 38Which of the following is an assumption of the hypothesis test we have been conducting?a. That the answer to the question "Do you think that the central bank will increase interest rates by at most 2 basis points over the next year?" of any one economist is independent of the answer given by any other economist.b. That the data follows a t-distribution.c. That the data is normally distributed.d. That n < 30 so we can use the central limit theorem. 39Image transcription textME 39 Questions 33 - 39 concern thefollowing idea: A writer for a magazineon finance and wealth ma... Show more... Show more  Math Statistics and Probability STAT 1520   Share QuestionEmailCopy link Comments (0)