Wednesday

September 17, 2014

September 17, 2014

Posted by **Katie** on Monday, November 11, 2013 at 2:52pm.

A) P-value = 0.0171. The state should continue with its assumption. There is a 1.7% chance of having 38 or less of 1000 people in a random sample be unemployed if in fact 5.3% do.

B) P-value = 0.983. The change is statistically significant. A 98% confidence interval is (2.4%, 5.2%). This is clearly lower than 5.3%. The chance of observing 38 or less unemployed people of 1000 is 98% if the unemployment is really 5.3%.

C) P-value = 0.98. The state should continue with its assumption. There is a 98% chance of having 38 or less of 1000 people in a random sample be unemployed if in fact 5.3% do.

D) P-value = 0.0171. The change is statistically significant. A 90% confidence interval is (2.8%, 4.8%). This is clearly lower than 5.3%. The chance of observing 38 or less unemployed people of 1000 is 1.7% if the unemployment is really 5.3%. The P-value is less than the alpha level of 0.05.

E) P-value = 0.0342. The change is statistically significant. A 90% confidence interval is (2.8%, 4.8%). This is clearly lower than 5.3%. The chance of observing 38 or less unemployed people of 1000 is 3.4% if the unemployment is really 5.3%.

Huh?

**Answer this Question**

**Related Questions**

Economics - How would unemployment compensation and income support programs (...

macroeconomics - If the economy currently has a frictional unemployment rate of ...

Macro Economics - Does anyone know how to calculate the frictional rate of ...

macroeconomics - (1) Population: 250,000 Unemployed: 20,000 Labor Force ...

Economics - 3. Starting from short-run equilibrium, the following occurs: Labor ...

Economics - 3. Starting from short-run equilibrium, the following occurs: Labor ...

Macroeconomics* Please check my answers* - If real GDP per capita grows at a ...

Economics M/C - Please help: If the rate of separation is 0.02 and the rate of ...

Economics - The economy consists of the following: - working-age population: 20M...

Economics - 9. During the 1990's the inflation and unemployment trends in the ...