Complete the following:
The data on the left is the level of GDP freedom for 42 nations
1. Run descriptive statistics on this data set and interpret the meaning (this does not mean just repeating the numbers)
2. Create a 90%, 95%, and 99% confidence interval and explain what this means
3. Do a hypothesis test and check to see if a value of a single value of 5.0E+11* is realistic based on the data and state why, you must show all the steps in the hypothesis test
4. Do a hypothesis test and check to see if a value of a sample with 30 observations that has a value of 5.0E+11 is realistic based on the data you must show all the steps in the hypothesis test
*5.0E+11 = 500,000,000,000 - It means add 11 zeros to the value - You do not need to change data, Excel will recognize and do as is
GDP
17243112604
84390572977
11786099138
1.94122E+12
2.97648E+11
3.68736E+11
9371187176
1211324626
3.79069E+11
51774221669
1610544922
4.69374E+11
6633055846
8820312674
1.00357E+11
47714490183
7538000000
16577887610
54713128376
1401000000
19649724656
2.08789E+12
4109500000
1516078205
14857275330
2013014939
1.57704E+12
5.2792E+11
2.12741E+11
5.92661E+12
22780280530
22393529278
11897620542
2.88189E+11
541097513
1648089240
35831464226
23132450331
1.92032E+11
3.28053E+12
466389674.1
3.09866E+11