Chi square test for independence-interest rate predictions

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Reference no: EM13107871

Forecasters interest rate predictions over the period 1982 1990 were studied to see whether the predictions corresponded to what actually happened. The 2 Ã- 2 contingency table below shows the frequencies of actual and predicted interest rate movements. Research question: At ? = .10, is the actual change independent of the predicted change? (Data are from R. A. Kolb and H. O. Steckler, â??How Well Do Analysts Forecast Interest Rates?â? Journal of Forecasting 15, no. 15 [1996], pp. 385=394.)

Forecasted Change Rates Fell Rates Rose Row Total

Rates would fall 7 12 19

Rates would rise 9 6 15

Col Total 16 18 34

Reference no: EM13107871

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