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PLEASE NO HANDWRITTEN ANSWERS, AND PLEASE WITH EXCEL FORMULAS! 7. A lending institution supplied the following data on loan approvals by four loan ofcers. Conduct

PLEASE NO HANDWRITTEN ANSWERS, AND PLEASE WITH EXCEL FORMULAS!

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7". A lending institution supplied the following data on loan approvals by four loan ofcers. Conduct an appropriate Hypothesis test to determine whether the loan approval decision is independent of the loan ofcer reviewing the loan application. a} b) C) d) 3} fl Loan Approval Decision Loan Ofcer Rejected Approved Total Sean 14 12 26 Bruce 14 18 32 Debbie 16 34 50 Susie 16 26 42 Total 60 90 150 State the Null and Alternate Hypotheses. Determine the value of the test statistic. Show all the steps in your solution. Determine p-Value. Conduct Hypothesis test using p-value approach with u = .025. What is the test decision? Determine Critical-Value. Conduct Hypothesis test using Critical-Value approach with a = .05. What is the test decision? Do the results in parts c} and d) lead to different conclusions? Why or Why not? Based on test decisions under parts c) and d), what conclusion would you draw

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