TransUnion is a leading global provider of business intelligence services. Transunion reported that 33% of the mortgages in the year previous to the sub-prime mortgage crisis were adjustable-rate mortgages (ARMs). a. In samples of mortgages of size 75, what proportion of the samples would you expect to produce sample proportions equal to or larger than 0.25? b. If a sample of size 75 produced a sample proportion of 0.45, what would you infer that the population proportion of mortgages with ARMs really is? c. In a sample of 90 mortgages, what would the probability be that the number of mortgages with ARMS would be between 25 and 35?

TransUnion is a leading global provider of business intelligence services. Transunion reported that 33% of the mortgages in the year previous to the sub-prime mortgage crisis were adjustable-rate mortgages (ARMs). a. In samples of mortgages of size 75, what proportion of the samples would you expect to produce sample proportions equal to or larger than 0.25? b. If a sample of size 75 produced a sample proportion of 0.45, what would you infer that the population proportion of mortgages with ARMs really is? c. In a sample of 90 mortgages, what would the probability be that the number of mortgages with ARMS would be between 25 and 35?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

You are interested in comparing sleep habits of elementary school children. Suppose you have agroup of eighth graders. You asked them in July to estimate about how many hours of sleep they get pernight, on average. You asked those same individuals the same question again in November, during theschool year. Which is the most appropriate test to use?
In a Gallup poll of 1236 adult respondents, 6% said that bad luck follows breaking a mirror. That percentage has a margin of error of 1.5 percentage points. Why is it misleading to state that the percentage is 6% with a margin of error of 1.5%?
Frq styled response
You may need to use the appropriate appendix table or technology to answer this question. In the past, 19% of all homes with a stay-at-home parent, the father is the stay-at-home parent. An independent research firm has been charged with conducting a sample survey to obtain more current information. (a) What sample size is needed if the research firm's goal is to estimate the current proportion of homes with a stay-at-home parent in which the father is the stay-at-home parent with a margin of error of 0.03? Use a 95% confidence level. (Round your answer up to the nearest whole number.) (b) Repeat part (a) using a 99% confidence level. (Round your answer up to the nearest whole number.) Need Help? Read It option esc ! 1 T Q A Z 96 2 W S X 88 command Watch It O #3 E Master It a D C $ 4 R F ~ ♫ % 5 V T G m MA 6 MacBook Pro B Y H & 7 U N D W * 8 J P 1 T M ( K 1 & O **** ) O 1 H L cricut P V command T { x + 11 ? option } រ dele
A hospital wants to estimate the percentage of admitted patients who receive Medicare benefits. If we want to estimate that percentage based on examination of randomly selected patient payment records, how many patient records must be examined in order to be 90% confident that we are within four percentage points of the population percentage?
In one particular rainforest in Tasmania, it has been found that 70% of the trees are eucalyptus trees; 20% of the trees are Australian blackwood trees and 10% of the trees are myrtle beech trees. Unfortunately, this rainforest has recently been affected by bushfires; and we are interested in determining whether or not the above percentage distribution of trees has been affected by these bushfires. When the number of trees remaining were counted after several had been burnt down by the bushfires, it was found that there were a total of 500 trees left. Of these, 320 were eucalyptus trees; 120 were Australian blackwood trees and 60 were myrtle beech trees. A scientist would like to know if there is evidence of a significant change in the percentage distribution of trees aş a result of these unfortunate bushfires. (i) Use statistical notation to state the appropriate null and alternate hypotheses. (ii) Calculate the chi-squared test statistic for these data. (ii1) Given a p-value of 0.038…
According to the NIMH website the average number of adult Americans diagnosed with a “serious mental illness” across all 50 states in 2019 was μ = 5.2 out of 100 residents (or 5.2%). Please test to see if the sample of states listed below (n=8) has a significantly higher level of mental illness than the population mean of 5.2. Sample data: Arkansas= 5.45%, Montana=5.34%, Vermont=5.32%, Oregon=5.19%, Utah=5.2%, Ohio=5.13, Kentucky=5.25% West Virginia=5.18%. Hint - drop the % signs and use 5.45, 5.32, etc as the X scores. If you want you can use JASP for help with the calculations. Use 3 decimal places for the M, s, SEM. The alpha level for the study was set to α=.05. a. State the hypotheses of the study. b. Find the critical t value for this studyc. Compute the one-sample t test. d. Compute the Cohen's d for the data (even if not significant) e. State the results - is the sample significantly higher? Do you reject the null hypothesis? Report the t test results in APA format…
Estimating income tax based on dividends is also not straightforward, due in part to Australia’s franking credit scheme. Mike is looking to simplify total annual tax projections for a share portfolio based simply on the share portfolio's current value. To do this, he wishes to determine if there is any statistically significant linear relationship between the two. Mike has randomly sampled 30 individuals with share portfolios over AUD$100,000 and mapped the assessed value of the portfolio (in AUD $1000) to the total taxes paid on that amount (in AUD$1). Mike's data is in the table below. Assessed Value Taxes 426.1 5014 368.8 3698 309.8 3691 373.9 5189 445.7 4455 505.1 5189 342.3 3416 343.6 3931 432.3 4393 329.2 3267 291.2 2871 399.3 4013 392.7 4728 482.2 4885 480.6 4888 390.8 3917 371.6 3738 311.9 3098 343.7 3633 304.7 3538 274.6 3427 457.1 4633 231.5 4009 450.5 4565 510.1 5946 308.4 3045 348.8 3504 410.4 3375…
An Associated Press story in Easton, Maryland’s The Star Democrat on June 3, 2010 reported thatAll told, scam artists are believed to have stolen about $47 billion from Medicare in the 2009 fiscal year, nearly triple the toll a year earlier. Medicare spokesman Peter Ashkanaz said that…charges have been filed against 103 defendants in cases involving more than $100 million in Medicare fraud.(a) What percentage of the Medicare fraud has been targeted by filed charges?(b) What is the average claim in each fraud charge?(c) How many of these average size claims would need to be filed to recover the entire $47 billion?
-One Sample Dichotomous Outcome- Suppose a similar study was conducted two years ago and found that the prevalence of smoking was 27% among freshman. Problem: If the investigator believed that this is a reasonable estimate of prevalence today, how many subjects would be needed?