Multiple Choice: Is this loan rejection percentage greater than the percentage of the U.S. population that lives in Arkansas (per 2010 census)?

a. Loan rejection percentage is greater than the population.

b. Loan rejection percentage is less than the population.

Navigate to the Connect Additional Student Resources page. Under Chapter 1 Data Files, download and consider the rejected loans dataset of LendingClub data titled “DAA Chapter 1-1 Data” from the Connect website and perform an Excel PivotTable by state; then figure out the number of rejected applications for the state of Arkansas. That is, count the loans by state and compute the percentage of the total rejected loans in the United States that came from Arkansas. How close is that to the relative proportion of the population of Arkansas as compared to the overall U.S. population (per 2010 census)? Use your browser to find the population of Arkansas and the United States and calculate the relative percentage and answer.