20 Economists Were Sampled and Asked to Predict If the National

Multiple Choice

20 economists were sampled and asked to predict if the national economy would improve during the next twelve months. Eleven of the economists predicted an increase, two economists predicted no change, and seven economists predicted a decrease in the economy. Conduct a hypothesis test at the 0.10 significance level to determine if the majority of economists predict an increase. Based on the analysis, we would conclude that:

A) The economists favor an increase in the economy
B) The economists favor a decrease in the economy
C) The economists favor no change in the economy
D) No conclusion can be reached