An economist believes the unemployment rate in New Jersey as of June 2023 is different than the unemployment rate of 3.7% in 2022. She randomly selects 650 people aged 16 and over and found that 34 of them were currently unemployed, but looking for employment. Using the Minitao printout below, test the economist claim at the 0.10 significance level. Show all six steps to receive full credit.Test and Cl for One Proportion: UnemploymentMethodp: event proportionExact method is used for this analysis.Descriptive StatisticsN Event Sample p95% Cl for p65034 0.052308 (0.036493, 0.072331)TestNull hypothesisHo: p = 0.037Alternative hypothesis H1: p # 0.037P-Value0.061 An economist believes the unemployment rate in New Jersey as of June 2023 is different than theunemployment rate of 3.7% in 2022. She randomly selects 650 people aged 16 and over and found that34 of them were currently unemployed, but looking for employment. Using the Minitab printout below,test the economist claim at the 0.10 significance level. Show all six steps to receive full credit.Test and Cl for One Proportion: UnemploymentMethodp: event proportionExact method is used for this analysis.Descriptive StatisticsN Event Sample p95% CI for p34 0.052308 (0.036493, 0.072331)650TestNull hypothesisHo: p = 0.037Alternative hypothesis H₁: p = 0.037P-Value0.061

To test the economist's claim, we need to go through the six steps of hypothesis testing using the…

Answered: An economist believes the unemployment…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

100%

An economist believes the unemployment rate in New Jersey as of June 2023 is different than the unemployment rate of 3.7% in 2022. She randomly selects 650 people aged 16 and over and found that 34 of them were currently unemployed, but looking for employment. Using the Minitao printout below, test the economist claim at the 0.10 significance level. Show all six steps to receive full credit. Test and Cl for One Proportion: Unemployment Method p: event proportion Exact method is used for this analysis. Descriptive Statistics N Event Sample p 95% Cl for p 650 34 0.052308 (0.036493, 0.072331) Test Null hypothesis Ho: p = 0.037 Alternative hypothesis H1: p # 0.037 P-Value 0.061