Description

Contains solution answering the following questions:

ECON 1035 – BUSINESS STATISTICS 1

• At the start of 2015, a press release by the International Energy Agency reported that average carbon emissions in HICs was 8 metric tons per capita in 2015. Do you agree with their estimate? Perform a hypothesis test at the 5% significance level.  Show the step-by-step workings in the report. Clearly label your diagram and indicate any assumptions made. Explain carefully any potential error you could commit in your decision making. 

The same report claimed that average carbon emissions in LMICs was 3 metric tons per capita in 2015. Conduct a similar hypothesis test as in question 8 and draw meaningful interpretations. Explain carefully any potential error you could commit in your decision making.