Assume the federal government releases an David Bourgeois Saylor

Question 34 / 187: Assume the federal government releases an estimate of an increase of 250,000 new jobs for the month of January. However, a sample taken of 20 economists provides an average estimated number of new jobs totaling 266,000, with a sample standard deviation of 24,000. Treat the federal government's estimate as the population mean. Say you wish to test if the economists' estimate represents a statistically significant increase over the federal government's estimate for the job increase. Based on this information, which of the following statements is true?

A To evaluate the null hypothesis and calculate the appropriate test statistic, you will need
to refer to the Z-distribution.

B To evaluate the null hypothesis and calculate the appropriate test statistic, you will need
to refer to the t-distribution with degrees of freedom equal to 20.

C To evaluate the null hypothesis and calculate the appropriate test statistic, you will need
to refer to the t-distribution with degrees of freedom equal to 19.

D To evaluate the null hypothesis and calculate the appropriate test statistic, you will need
to refer to the t-distribution with degrees of freedom equal to 250,000.

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https://www.jobilize.com/business-statistics-by-david-bourgeois-bharatendra-rai

Business Statistics

Author:

David BourgeoisLecturer

The Saylor Academy

USA

Access: Public Instant Grading

Attribution: David T. Bourgeois, PhD; Bharatendra K. Rai, PhD. Business Statistics. The Saylor Academy 2014, http://www.saylor.org/courses/bus204/

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