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Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 24% of people had a
Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 24% of people had a credit score below 600. Due to the recent financial crisis, the federal government is concerned that this proportion has increased. To test this hypothesis, a random sample of 500 people was chosen. From this sample, 145 people had credit scores less than 600. Using a = 0.10, complete parts a and b below. a. Does this sample provide support for the government's concern that the proportion of people with credit scores below 600 has increased? Determine the null and alternative hypotheses. Choose the correct answer below. OA. Ho p=0.24 H: p 0.24 OC. Ho: p 0.24 H: p0.24 Determine the critical value(s) of the test statistic. Z= B. Ho: p0.24 H: p>0.24 OD. Ho: p0.24 H: p
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