2 Hou You can submit your cheat sheet to me via Canvas Messages after you have c

Question

2 Hou You can submit your cheat sheet to me via Canvas Messages after you have completed the exam 3 pts DI Question 24 Small Sample Mean Problem Each year the Heritage Foundation creates an Index of Economic Freedom for countries around the word based on assessments of freedom on property rights, corruption, business freedom, and labor freedom, amiong many others We have a sample of 31 countries taken from the 2016 data. The following is a summary of this sample Economic Free Mean 62.174 Mn 46400 Varlance63.004 12.975 38 22 24 32 42 0 65 74 75 76 77 91 93 Max 7 700. 2 12 19 22 30 3 26 39 43 31 The Heritage Foundation feels an index below 60 reflects a country that is mostly unfree. If we were to conduct a test to see if the sample estimate is above 60 at an alpha level- 10, what is (are) the critical t-valuels) for this test 1697 and 169 1.310 350 and 1.310 MacBook Ai 7

Explanation / Answer

This is right tail test problem with unknown population standard deviation
n=31
df=31-1=30
alpha=0.1
T critical = 1.310415025 by using T.INV(0.9,30)
rounded T critical=1.310
option C is correct.

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