Asked by Alysha Brown on Jun 27, 2024
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In April of 2011,the unemployment rate in Canada was reported to be 7.6%.You wish to know if the current unemployment rate differs from that of April 2011.You take a random sample size of 1000 and found unemployment at 6.1%.State the critical value required to perform an appropriate hypothesis test using α = 0.05.
A) 1.282
B) 1.96
C) 2.576
D) 1.645
E) 3.09
Critical Value
A cutoff point on a test statistic at or beyond which the null hypothesis is rejected in favor of the alternative hypothesis.
Hypothesis Test
A statistical method used to determine whether there is enough evidence to reject a null hypothesis in favor of an alternative hypothesis.
Unemployment Rate
The percentage of the labor force that is jobless and actively looking for employment.
- Understand how to identify and calculate appropriate critical values for hypothesis testing.
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Learning Objectives
- Understand how to identify and calculate appropriate critical values for hypothesis testing.
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