News reports in 2017 indicated that Canadians were concerned about the renegotiation of the North American...
News reports in 2017 indicated that Canadians were concerned about the renegotiation of the North American Free Trade Agreement (NAFTA) with the United States. Students in ECON 355 were working on an essay about the impacts of NAFTA on Canada, and they suspected that fewer than half of all Canadians felt confident that Canada could protect its interests in the negotiation. Suppose a survey conducted between July 23 - 26, 2017 surveyed 1000 Canadians and found that 46% of Canadians felt confident or somewhat confident that Canada could protect its interests in the negotiation. Do you think the students are right about their suspicion? You will conduct a hypothesis test at a 5% significance level.
(a) Identify the parameter of interest. [1 mark]
(b) State the null and alternative hypotheses. [2 marks]
(c) Determine any conditions necessary to carry out the test. [2 marks]
(d) Compute the test statistic. [2 marks]
(e) Compute the P-value. Sketch your model and shade in the corresponding region. [2 marks]
(f) Do you think the students are right about their suspicion? State your conclusion based on your hypothesis test using a 5% significance level. [2 marks]
(g) Based on your conclusion, what type of error are you at risk of making? Briefly explain your answer in the context of the question. [2 marks]
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News reports in 2017 indicated that Canadians were concerned
about the renegotiation of the North American...
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**************ALL OF THE PARTS ARE FROM ONE
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