A rent-to-own agreement allows the renter to either return the merchandise after a specified period of time or applythe monthly payments toward purchasing the item(s) (or clearly, the renter could default on the agreement). A rent-to-own company reports that nationally 61% of the agreements result in the merchandise being returned, 27% of theagreements result in the merchandise being purchased, and the remaining agreements are defaulted on (consumerdoes not make required payments specified in the contract). At a local rent-to-own company, a sample of 227agreements finds that 113 result in the merchandise being returned, 75 agreements result in the merchandise beingpurchased and the remaining agreements are defaulted upon. When testing (at the 5% level of significance) whetherthe proportions of the local company are different than the proportions nationally, what is the test statistic (pleaseround your answer to 3 decimal places)

IT is hypothesis test for homogenity Hypothesis is test about population parameters here…

Answered: A rent-to-own agreement allows the…

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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A rent-to-own agreement allows the renter to either return the merchandise after a specified period of time or apply the monthly payments toward purchasing the item(s) (or clearly, the renter could default on the agreement). A rent-to-own company reports that nationally 60% of the agreements result in the merchandise being returned, 27% of the agreements result in the merchandise being purchased, and the remaining agreements are defaulted on (consumer does not make required payments specified in the contract). At a local rent-to-own company, a sample of 229 agreements finds that 110 result in the merchandise being returned, 74 agreements result in the merchandise being purchased and the remaining agreements are defaulted upon. When testing (at the 5% level of significance) whether the proportions of the local company are different than the proportions nationally, what is the test statistic (please round your answer to 3 decimal places)

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