The economic dynamism, which is the index of productive growth in dollars for countries that are designated by the World Bank as middle-income are in table #7.3.8 ("SOCR data 2008," 2013).  Countries that are considered high-income have a mean economic dynamism of 60.29.  Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries?  Test at the 5% level (Show the work)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
icon
Related questions
Topic Video
Question

The economic dynamism, which is the index of productive growth in dollars for countries that are designated by the World Bank as middle-income are in table #7.3.8 ("SOCR data 2008," 2013).  Countries that are considered high-income have a mean economic dynamism of 60.29.  Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries?  Test at the 5% level (Show the work)

25.8057

37.4511

51.915

43.6952

47.8506

43.7178

58.0767

41.1648

38.0793

37.7251

39.6553

42.0265

48.6159

43.8555

49.1361

61.9281

41.9543

44.9346

46.0521

48.3652

43.6252

50.9866

59.1724

39.6282

33.6074

21.6643

 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,