A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should no 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 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to calculate p, the z-score, and the p-value. p = Ex: 1.234 z = n=
A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should no 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 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to calculate p, the z-score, and the p-value. p = Ex: 1.234 z = n=
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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Spreadsheet 2
![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 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to
calculate p, the z-score, and the p-value.
p = Ex: 1.234
Z
P =
Since the p-value is Pick ✓than the significance level 0.05, the null hypothesis Pick
Pick
✓evidence exists that the proportion of loans to people with more than $50,000 in debt is
more than 0.15.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fafa77d54-ffb2-4772-a246-c955b3ec6a36%2Fe8c3a75c-c2a6-49e8-b5a2-25651cdbc4dd%2Fe9hqx2h_processed.png&w=3840&q=75)
Transcribed Image Text: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 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to
calculate p, the z-score, and the p-value.
p = Ex: 1.234
Z
P =
Since the p-value is Pick ✓than the significance level 0.05, the null hypothesis Pick
Pick
✓evidence exists that the proportion of loans to people with more than $50,000 in debt is
more than 0.15.
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