Question

In January of 2008, a survey of 150 macroeconomists found 89 who believed that the recession had already begun.  A survey of 120 purchasing agents found 87 who believed the recession had begun..  At the 90% confidence level, can one conclude that the purchasing agents were more pessimistic about the economy than the macroeconomists were?

What is the p value?  What can you imply about Ho from this value?

Answer 1

step 1 : set the hypothesis

Ho:purchasing agents were more pessimistic about the economy than the macroeconomist were

H1 ;Purchasing agents were not more pessimistic or less pessimistic about the economy than the macroeconomist were

step2 :1-0.9=0.1 significance level p=1-0.1/2=0.95 confidence interval