A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unableto borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table showsrepresentative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful toreference the appropriate table: chi-square table or F table)Type of Interest Rate on LoanRaceHigh Interest RateLower Interest RateBlack553480Latino265324White4913,701At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race?a. Choose the appropriate null and alternative hypotheses.O Họ: Interest rate received is independent of race.; Ha: Interest rate received is dependent on race.O Hg: Interest rate received is dependent of race.; HA: Interest rate received is independent on race.b-1. Calculate the value of the test statistic. (Round intermediete calculations to at least 4 decimal places and final answer to 3decimal places.)Test statistic< Prev.3 of 10Next >(?re to search b-2. Find the p-value.O pvalue <0.01O 0.01s p-value <0.025O 0.025 s pvalue <0.05O 0.05 < p-value<0.10O p-value 2 0.10c. What is your conclusion?O Reject Hg; there is enough evidence to support the claim that interest rate and race are dependent.O Reject Ho, there is not enough evidence to support the claim that interest rate and race are dependent.O Do not reject Ha, there is enough evidence to support the claim that interest rate and race are dependentO Do not reject Ha; there is not enough evidence to support the claim that interest rate and race are dependent< Prev3 of 10Next >asearch

Chi square test: Chi square test is the hypothesis test used to test whether there is relationship…

A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table F table) Type of Interest Rate on Loan Race Black High Interest Rate Lower Interest Rate 553 480 Latino White 265 324 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race?

A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table F table) Type of Interest Rate on Loan Race Black High Interest Rate Lower Interest Rate 553 480 Latino White 265 324 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race?

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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Concept explainers

Bar Graphs

A bar graph is a chart or graphical representation of data. A bar chart, also known as a bar graph, is a graph or chart that displays categorical data using rectangular bars with heights or lengths equal to the values they represent. Typically, bar graphs show categorical and numerical variables grouped in class intervals. A bar graph is useful for comparing and analyzing a set of data.

Question

A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable
to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows
representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to
reference the appropriate table: chi-square table or F table)
Type of Interest Rate on Loan
Race
High Interest Rate
Lower Interest Rate
Black
553
480
Latino
265
324
White
491
3,701
At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race?
a. Choose the appropriate null and alternative hypotheses.
O Họ: Interest rate received is independent of race.; Ha: Interest rate received is dependent on race.
O Hg: Interest rate received is dependent of race.; HA: Interest rate received is independent on race.
b-1. Calculate the value of the test statistic. (Round intermediete calculations to at least 4 decimal places and final answer to 3
decimal places.)
Test statistic
< Prev.
3 of 10
Next >
(?
re to search

b-2. Find the p-value.
O pvalue <0.01
O 0.01s p-value <0.025
O 0.025 s pvalue <0.05
O 0.05 < p-value<0.10
O p-value 2 0.10
c. What is your conclusion?
O Reject Hg; there is enough evidence to support the claim that interest rate and race are dependent.
O Reject Ho, there is not enough evidence to support the claim that interest rate and race are dependent.
O Do not reject Ha, there is enough evidence to support the claim that interest rate and race are dependent
O Do not reject Ha; there is not enough evidence to support the claim that interest rate and race are dependent
< Prev
3 of 10
Next >
a
search

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