4. The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted divided by the total dollar value of all loans made. Suppose that a random sample of seven Ohio banks is selected and the bad debt ratios for are calculated. The mean is 6 percent and s is 1.826 percent. Banking officials claim that the mean bad debt ratio for all Midwestern banks is 3.5 percent and that the mean bad debt ratio for Ohio banks is higher. Assuming that bad debt ratios for Ohio hanks are approximately normally distributed, use critical values and the given sample information to test the hypotheses by setting alpha equal to 0.01.

4. The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted divided by the total dollar value of all loans made. Suppose that a random sample of seven Ohio banks is selected and the bad debt ratios for are calculated. The mean is 6 percent and s is 1.826 percent. Banking officials claim that the mean bad debt ratio for all Midwestern banks is 3.5 percent and that the mean bad debt ratio for Ohio banks is higher. Assuming that bad debt ratios for Ohio hanks are approximately normally distributed, use critical values and the given sample information to test the hypotheses by setting alpha equal to 0.01.

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Description: 4. The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted dividedby the total dollar value of all loans made. Suppose that a random sample of seven Ohio banks is selectedand the bad debt ratios for are ca

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.4: Collecting Data

Problem 2E

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