Question: On Friday Wall Street traders were anxiously awaiting the federal
On Friday, Wall Street traders were anxiously awaiting the federal government’s release of numbers on the January increase in nonfarm payrolls. The early consensus estimate among economists was for a growth of 250,000 new jobs (CNBC, February 3, 2006). However, a sample of 20 economists taken Thursday afternoon provided a sample mean of 266,000 with a sample standard deviation of 24,000. Financial analysts often call such a sample mean, based on late-breaking news, the whisper Number. Treat the “consensus estimate” as the population mean. Conduct a hypothesis test to determine whether the whisper number justifies a conclusion of a statistically significant increase in the consensus estimate of economists. Use α = .01 as the level of significance.
Relevant QuestionsData released by the National Center for Health Statistics showed that the mean age at which women had their first child was 25.0 in 2006 (The Wall Street Journal, February 4, 2009). The reporter, Sue Shellenbarger, noted ...An airline promotion to business travelers is based on the assumption that two-thirds of business travelers use a laptop computer on overnight business trips.a. State the hypotheses that can be used to test the assumption.b. ...Refer to exercise.a. What hypotheses are implied in this problem?b. At the α = .05 level of significance, can we reject the null hypothesis in part (a)?Explain.The average annual cost (including tuition, room, board, books, and fees) to attend a public college takes nearly a third of the annual income of a typical family with college age children (Money, April 2012). At private ...The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year (INC. Magazine, February 2012). Below is a sample of 12 flights with their domestic airfares ...
Post your question