Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2023. Bank A Bank B Consider the following contingency table with the approved loans in August Consumer loans (approved out of total) Mortgage loans

  

2023. Bank A Bank B Consider the following contingency table with the approved loans in August Consumer loans (approved out of total) Mortgage loans (approved out of total) p of 500 4 of 20 3000 of 4000 q of 1000 It is declared that the proportion of all approved loans is higher for Bank B, but Bank A has higher approval rates for both types of loans, if the proportions are considered separately for these types. Can this be possible? If yes, for what values of p and q? (hint: for the last question it is sufficient to characterize the set of admissible values for p and q)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Answer Yes its possible for Bank A to have higher approval rates for both types of loans whi... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Business Statistics Communicating With Numbers

Authors: Sanjiv Jaggia, Alison Kelly

1st Edition

78020549, 978-0078020544

More Books

Students also viewed these Accounting questions