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Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 18% of people had a credit score below 600. Due to the recent financial crisis, the federal government is concerned that this proportion has increased. To test this hypothesis, a random sample of 400 people was chosen. From this sample, 89 people had credit scores less than 600. Using a = 0.10, complete parts a and b below. a. Does this sample provide support for the government's concern that the proportion of people with credit scores below 600 has increased? Determine the null and alternative hypotheses. Choose the correct answer below. OA. Ho: p=0.18 H₁: p*0.18 OC. Ho: Ps0.18 H₁: p>0.18 Determine the critical value(s) of the test statistic. G Za (Use a comma to separate answers as needed. Round to two decimal places as needed.) Calculate the test statistic. Zp = (Round to two decimal places as needed.) Determine the proper conclusion. Choose the correct answer below. OB. Ho: P> 0.18 H₁: p≤0.18 OD. Ho: p20.18 H₁: p<0.18 O A. Do not reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. OB. Do not reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OC. Reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OD. Reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. b. Determine the p-value for this test.

Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 18% of people had a credit score below 600. Due to the recent financial crisis, the federal government is concerned that this proportion has increased. To test this hypothesis, a random sample of 400 people was chosen. From this sample, 89 people had credit scores less than 600. Using a = 0.10, complete parts a and b below. a. Does this sample provide support for the government's concern that the proportion of people with credit scores below 600 has increased? Determine the null and alternative hypotheses. Choose the correct answer below. OA. Ho: p=0.18 H₁: p*0.18 OC. Ho: Ps0.18 H₁: p>0.18 Determine the critical value(s) of the test statistic. G Za (Use a comma to separate answers as needed. Round to two decimal places as needed.) Calculate the test statistic. Zp = (Round to two decimal places as needed.) Determine the proper conclusion. Choose the correct answer below. OB. Ho: P> 0.18 H₁: p≤0.18 OD. Ho: p20.18 H₁: p<0.18 O A. Do not reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. OB. Do not reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OC. Reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OD. Reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. b. Determine the p-value for this test.

MATLAB: An Introduction with Applications
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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Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 18% of people had a credit score below 600. Due to the recent financial crisis, the federal government is concerned that this proportion has increased. To test this hypothesis, a random sample of 400 people was chosen. From this sample, 89 people had credit scores less than 600. Using a = 0.10, complete parts a and b below. a. Does this sample provide support for the government's concern that the proportion of people with credit scores below 600 has increased? Determine the null and alternative hypotheses. Choose the correct answer below. OA. Ho: p=0.18 H₁:p #0.18 OC. Ho: p≤0.18 H₁:p>0.18 Determine the critical value(s) of the test statistic. Zα = (Use a comma to separate answers as needed. Round to two decimal places as needed.) Calculate the test statistic. (Round to two decimal places as needed.) Determine the proper conclusion. Choose the correct answer below. Zp C = OB. Ho:p>0.18 H₁: p≤0.18 OD. Ho: p20.18 H₁: p<0.18 O A. Do not reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. O B. Do not reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. O C. Reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OD. Reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. b. Determine the p-value for this test.
Transcribed Image Text:Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. Historically 18% of people had a credit score below 600. Due to the recent financial crisis, the federal government is concerned that this proportion has increased. To test this hypothesis, a random sample of 400 people was chosen. From this sample, 89 people had credit scores less than 600. Using a = 0.10, complete parts a and b below. a. Does this sample provide support for the government's concern that the proportion of people with credit scores below 600 has increased? Determine the null and alternative hypotheses. Choose the correct answer below. OA. Ho: p=0.18 H₁:p #0.18 OC. Ho: p≤0.18 H₁:p>0.18 Determine the critical value(s) of the test statistic. Zα = (Use a comma to separate answers as needed. Round to two decimal places as needed.) Calculate the test statistic. (Round to two decimal places as needed.) Determine the proper conclusion. Choose the correct answer below. Zp C = OB. Ho:p>0.18 H₁: p≤0.18 OD. Ho: p20.18 H₁: p<0.18 O A. Do not reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. O B. Do not reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. O C. Reject Ho. There is insufficient evidence that the proportion of people with credit scores below 600 has increased. OD. Reject Ho. There is sufficient evidence that the proportion of people with credit scores below 600 has increased. b. Determine the p-value for this test.
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