An economist studies changes in inflation levels during the pandemic period. In a random sample of 16 European countries

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An Economist Studies Changes In Inflation Levels During The Pandemic Period In A Random Sample Of 16 European Countries 1 (101.38 KiB) Viewed 75 times

An economist studies changes in inflation levels during the pandemic period. In a random sample of 16 European countries, the average inflation increase in the first quarter of 2021 amounted to 2.7 pp, with a standard deviation (based on the unbiased estimator of the variance) of 0.5. We assume that inflation increase in general follows a normal distribution. • The economist wants to construct confidence intervals for the average inflation increase and the variance of inflation increase in Europe. The realization of the 95% confidence interval for the average inflation increase (in pp) is ), while the realization of the 95% confidence interval for the variance of inflation increase (in pp) is ( . The economist also wishes to verify whether the variance of inflation increase in Europe during the pandemic period is larger than in the pre-pandemic period, at a significance level 0.01. In the pre- pandemic period, the variance of inflation increase amounted to 0.04. The value of the appropriate test statistic amounts to the critical value is equal to so for the adopted significance level we the null hypothesis. Please provide numerical values approximated to two decimal digits. Next page