Question
A loan officer wants to determine if the proportion of approved loans differs by the marital status of loan applicants. The survey data are shown
A loan officer wants to determine if the proportion of approved loans differs by the marital status of loan applicants. The survey data are shown in the following table:
Single
Married
Divorced
Approved
100
250
145
Rejected
155
225
125
Using a level of significance of 0.05, determine whether the proportion of approved loans differs by marital status of loan applicants.
I.The type of hypothesis test(lower-tailed,upper-tailed,two-tailed)to conduct for this study is:
II.The number of populations being tested is:
III. The value of the test statistics to conduct the test is:
IV. The critical value obtained from the table is:
V.The conclusion for this test is(Reject Ho,Fail to Reject Ho):
VI.Can we conclude thatthe proportion of approved loans differs by marital status of loan applicants(Yes,Insufficient evidence)?:
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