Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should not be more than 0.15.
A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should not be more than 0.15. The bank checks a randomly chosen sample of 75 customer's debt amounts to determine if the proportion is more than 0.15 at a significance level of 0.05. Use Sheet 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to calculate p, the z-score, and the p-value. P = Ex: 1.234 Z = P= Since the p-value is Pick * than the significance level 0.05, the null hypothesis Pick Pick evidence exists that the proportion of loans to people with more than $50,000 in debt is more than 0.15.A 51539.3 W N H 8052.017 35716.32 37010.69 31172.58 31088.99 20288.64 52734.52 LO -5422.71 10 128.8534 11 48485.96 12 30025.22 13 19891.47 14 26803.72 15 51758.67 16 88069.45 17 51200.97 18 34994.21 15 20571.93 20 51976.9 21 4703.652 22 47336.17 23 44720.1 24 29360.13 25 34616.27 26 1017.558 27 47474.09 28 60065.85 25 13371.6 310 23704.19 31 19126.38 32 62162.22 33 48230.9 34 20272.33 35 60161.6 36 29444.76 37 44479.55 38 6768.066 39 19667.52 40 32922.45 41 90692.28 42 44316.06 13 28841.63 44 43494.54 45 10604.87 46 7064.773 47 31668.88 48 10825.56 49 50646.8 50 30806.62 51 56348.36 52 628.1745 53 20646.31 54 49066.35 55 34841.7156 25866.6 57 20601.18 58 34887.22 59 20777.51 60 31237.39 61 51193.99 62 56770.12 63 54597.87 64 39467.22 65 29068.5 66 18234.09 67 -6643.53 68 17241.42 69 3254.459 70 50951.66 71 41832.58 72 42992.05 73 55095.87 74 19057.21 75 42923.48
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started