Credit scorecards are used by financial institutions to help decide to whom loans should be granted (see the Applications in Banking: Credit Scorecards summary on page 63). An analysis of the records of a random sample of loans at one bank produced the following results:

Score Score 600 Below 600 or More Sample size 562 804 Number defaulted 11 7 Do these results allow us to conclude that those who score below 600 are more likely to default than those who score 600 or more? Use a 10% significance level.