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 3 of the Excel file to calculate p, the z-score, and the p-value. p = Ex: 1.234 p = Since the p-value is Pich greater than the significance level 0.05, the null hypothesis Pick Pick V evideless that the proportion of loans to people with more than $50,000 in debt is 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 3 of the Excel file to calculate p, the z-score, and the p-value. p = Ex: 1.234 p = Since the p-value is Pich greater than the significance level 0.05, the null hypothesis Pick Pick V evideless that the proportion of loans to people with more than $50,000 in debt is more than 0.15. ||
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Please answer all parts in the same format as pictured below. I've included the last 2 questions below in case you cannot see them in the picture:
-Null hypothesis fails to be rejected OR Is rejected
-Sufficient evidence exists OR Insufficient evidence exists
Thank you
![## Hypothesis Testing for Loan Proportions
### Scenario:
A bank has instituted a policy to ensure that the proportion of loans made to individuals with more than $50,000 in debt does not exceed 0.15. To assess compliance with this policy, the bank selects a random sample of 75 customers' debt amounts. The objective is to determine if the proportion of individuals with more than $50,000 in debt exceeds 0.15, using a significance level of 0.05.
### Steps for Calculation:
#### 1. Calculate the Sample Proportion (\( \hat{p} \)):
\( \hat{p} = \)
- Example: Ex: 1.234
#### 2. Calculate the z-score:
\( z = \)
#### 3. Calculate the p-value:
\( p = \)
#### 4. Decision Rule Based on p-value:
- Compare the p-value to the significance level (\( \alpha = 0.05 \)).
Since the p-value is
- [ ] greater
- [ ] less
than the significance level 0.05, the null hypothesis
- [ ] cannot be rejected.
- [ ] is rejected.
Therefore, the evidence
- [ ] does not suggest
- [ ] suggests
that the proportion of loans to individuals with more than $50,000 in debt is more than 0.15.
### Visual Guide:
The above scenario requires inputting the sample proportion, z-score, and p-value. Use appropriate statistical software or Excel (refer to Sheet 3 of the provided Excel file) to perform these calculations.
The following steps guide through hypothesis testing in the educational process. Ensure each calculated value is accurately interpreted to determine if the bank’s policy is being adhered to.
[Graphical instructions and detailed explanations on calculating sample proportion, z-score, and p-value may be included in downloadable Excel worksheet or supplementary materials.]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52bd3cfe-3c9b-40ce-8732-3b0b81ba9280%2F2853e55d-0a04-40e9-80fb-e5dea3232bdb%2Fjoxhx62_processed.png&w=3840&q=75)
Transcribed Image Text:## Hypothesis Testing for Loan Proportions
### Scenario:
A bank has instituted a policy to ensure that the proportion of loans made to individuals with more than $50,000 in debt does not exceed 0.15. To assess compliance with this policy, the bank selects a random sample of 75 customers' debt amounts. The objective is to determine if the proportion of individuals with more than $50,000 in debt exceeds 0.15, using a significance level of 0.05.
### Steps for Calculation:
#### 1. Calculate the Sample Proportion (\( \hat{p} \)):
\( \hat{p} = \)
- Example: Ex: 1.234
#### 2. Calculate the z-score:
\( z = \)
#### 3. Calculate the p-value:
\( p = \)
#### 4. Decision Rule Based on p-value:
- Compare the p-value to the significance level (\( \alpha = 0.05 \)).
Since the p-value is
- [ ] greater
- [ ] less
than the significance level 0.05, the null hypothesis
- [ ] cannot be rejected.
- [ ] is rejected.
Therefore, the evidence
- [ ] does not suggest
- [ ] suggests
that the proportion of loans to individuals with more than $50,000 in debt is more than 0.15.
### Visual Guide:
The above scenario requires inputting the sample proportion, z-score, and p-value. Use appropriate statistical software or Excel (refer to Sheet 3 of the provided Excel file) to perform these calculations.
The following steps guide through hypothesis testing in the educational process. Ensure each calculated value is accurately interpreted to determine if the bank’s policy is being adhered to.
[Graphical instructions and detailed explanations on calculating sample proportion, z-score, and p-value may be included in downloadable Excel worksheet or supplementary materials.]
Transcribed Image Text:### Hypothesis Testing for Proportions
#### Overview
This document provides a detailed data set that can be used for practicing hypothesis testing related to proportions. The hypothesis test for proportions is a statistical method used to make decisions about population proportions based on sample data.
#### Data Set
Below is a list of numerical data from columns A and E in "Sheet1" of a spreadsheet file. This data can serve as sample data or observational results for hypothesis testing.
| Row | Value |
|-----|-------|
| 1 | 20171 |
| 2 | 46832 |
| 3 | 21790 |
| 4 | 4828.1 |
| 5 | 14685 |
| 6 | -12814 |
| 7 | 24520 |
| 8 | 73136 |
| 9 | 29135 |
| 10 | 42181 |
| 11 | 2261 |
| 12 | 52749 |
| 13 | 41403 |
| 14 | 26760 |
| 15 | 32547 |
| 16 | 17728 |
| 17 | -2407 |
| 18 | 39998 |
| 19 | 9780.6 |
| 20 | 45741 |
| 21 | 37179 |
| 22 | 33697 |
| 23 | 43529 |
| 24 | 26814 |
| 25 | 31292 |
| 26 | 37175 |
| 27 | 50137 |
| 28 | 55886 |
| 29 | 8696.4 |
| 30 | 30507 |
| 31 | 69779 |
| 32 | 52346 |
| 33 | -13642 |
| 34 | 24662 |
| 35 | 9746.5 |
| 36 | 50024 |
| 37 | 78576 |
| 38 | 26693 |
| 39 | 38644 |
| 40 | 30145 |
| 41 | 40460 |
| 42 | 10816 |
| 43 | 14662 |
|
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