The mortgage department of a large bank isinterested in the nature of loans of first-timeborrowers. This information will be used to tailortheir marketing strategy. They believe that theprobability that the first-time borrowers take outsmaller loans than other borrowers is 0.77. Theyperform a hypothesis test to determine if theprobability is the same or different from 0.77.They sample 110 first-time borrowers and find83 of these loans are smaller that the otherborrowers. What is the test statistics to test thenull hypothesis Ho: p = 0.77 against thealternative hypothesis Ha: p + 0.77?

Answered: Image /qna-images/answer/261073d1-e6fa-47a8-b345-f8a38da04a42.jpg

Answered: The mortgage department of a large bank…

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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Alex Insurance Company historically shows that 10% of their insured received at least one traffic ticket last year. This year, considering no changes, a sample of 200 drivers was chosen. What is the probability that less than 34 policyholders will receive at least one traffic ticket this year?
Jenny works for a local brewing company. She and her team mates try to estimate the Hong Kong consumers’ preference on their beer brand compared to other imported ones. They performed a survey asking if the respondent prefers the company’s brand the most or not. Based on this survey result, they want to decide how much money the company needs to invest on brand promotions in the coming year. This is an important decision for the company, and the management wants to have the probability that the sample proportion p is +/- 3% from the actual proportion p to be very high (i.e., at least 99%). In this case, what is the desirable sample size n for the following two cases? Give the answer in the form of: at least ___ x100 samples. Case i. When the actual proportion is 50%. Case ii. When the actual proportion is 10%. Explain why the sample sizes required to achieve the same accuracy in the two cases are different.
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Based on historical data, your manager believes that 34% of the company's orders come from first-time customers. A random sample of 175 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is less than 0.33?
A bank recently discovered that approximately 1.6% of all commercial loans issued by the bank become delinquent. Norah, the bank's vice president of operations, is stunned by this discovery. In order to be prepared for the next board meeting, she investigates the matter by randomly selecting 554 commercial loans from the bank’s database and reviewing each loan. What is the probability that at least 12 of the loans in the sample are delinquent? Use Excel to find the probability. Round your answer to four decimal places.
In a recent year, the Better Business Bureau settled 75% of complaints they received. You have been hired by the Bureau to investigate complaints this year involving computer stores. You plan to select a random sample of complaints to estimate the proportion of complaints the Bureau is able to settle. Suppose your sample size is 299. What is the probability that the sample proportion will be at least 5 percent more than the population proportion?
A researcher is looking at a new marketing campaign for a product. After 200 people watched the marketing campaign about 60 percent liked the product. Prior to the marketing campaign the product was liked by about 50 percent of people. What is the expected number of people that do not like the product if the null hypothesis is true and what is the observed number of people that do not like a product after watching the marketing campaign?
The mortgage department of a large bank is interested in the nature of loans of first-time borrowers. This information will be used to tailor their marketing strategy. They believe that the probability that first-time borrowers take out smaller loans than other borrowers is 0.37. They perform a hypothesis test to determine if the probability is the same or different from 0.37. They sample 104 first-time borrowers and find 84 of these loans are smaller than the other borrowers. What is the test statistic to test the null hypothesis H0: p = 0.37 against the alternative hypothesis Ha: p ≠ 0.37?
Words that are more likely to be contained in a phishing scam are called flagged words. Typically, there is a 94% chance that a phishing scam contains flagged words. There is a 20% chance that regular email contains flagged words. A security company estimates that 4.9% of emails are phishing scams. An email just came through that contains a flagged word. What are the chances that it is a phishing scam? (Enter the probability as a decimal rounded to four decimal places.)

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