Appendix C: SOME IMPORTANT PROBABILITY DISTRIBUTIONS Problem C.18 The 10 economi

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Appendix C: SOME IMPORTANT PROBABILITY DISTRIBUTIONS

Problem C.18

The 10 economic forecasters of a random sample were asked to forecast the rate of growth of the real gross national product (GNP) for the coming year. Suppose the probability distribution of the r.v.-forecast-is normal. The probability is 0.10 that the sample variance of the forecast is more than X percent of the population variance. What is the value of X? If the probability is 0.95 so that the sample variance is between X and Y percent of the population variance, what will be the values of X and Y?

Explanation / Answer

please provide Example C.12 to understend better the question C.17.

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