In A Sample Of 80 Borrowers Who Borrowed Less Than 1 000 From An Online Instant Lender 18 Repaid Late While In A Sample 1 (88.81 KiB) Viewed 121 times
In A Sample Of 80 Borrowers Who Borrowed Less Than 1 000 From An Online Instant Lender 18 Repaid Late While In A Sample 2 (31.05 KiB) Viewed 121 times
In a sample of 80 borrowers who borrowed less than $1,000 from an online instant lender 18 repaid late while in a sample of 120 who borrowed over $1,000, 42 repaid late. Is there enough evidence to conclude that those who borrow less than $1,000 are less like likely to repay late? Test at a 0.01. Standard Normal Distribution Table a. Calculate the test statistic. Let p. be the proportion for borrowers who borrowed less than $1,000 and P2 be those who borrowed over $1,000. Round to two decimal places if necessary Enter o if normal approximation cannot be used b. Determine the critical value(s) for the hypothesis test. Round to two decimal places if necessary Enter o if normal approximation cannot be used
c. Conclude whether to reject the null hypothesis or not based on the test statistic. O Reject o Fail to Reject o Cannot Use Normal Approximation
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!