A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should not be more than 0.15. The bank checks a randomly chosen sample of 75 customer's debt amounts to determine if the proportion is more than 0.15 at a significance level of 0.05. Use Sheet 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to calculate p^, the z-score, and the p-value.   p^= z= p=   Since the p-value is (less or greater?) than the significance level 0.05, the null hypothesis (is rejected or fails to be rejected?). (Sufficient or insufficient?) evidence exists that the proportion of loans to people with more than $50,000 in debt is more than 0.15.   Chart: 51539.29919 8052.016591 35716.31651 37010.68615 31172.5786 31088.99026 20288.64299 52734.51646 -5422.706014 128.8534293 48485.9593 30025.21757 19891.47232 26803.72091 51758.66724 88069.44647 51200.96717 34994.21226 20571.92917 51976.89938 4703.651572 47336.17208 44720.10297 29360.12547 34616.27351 1017.557502 47474.0926 60065.8519 13371.59926 23704.18652 19126.3776 62162.22339 48230.8969 20272.32811 60161.59658 29444.76198 44479.55104 6768.065853 19667.51704 32922.45117 90692.2755 44316.06317 28841.62637 43494.54116 10604.87441 7064.773213 31668.88433 10825.55844 50646.80234 30806.62003 56348.36418 628.1745048 20646.31227 49066.35498 34841.71043 25866.6015 20601.17964 34887.22349 20777.51475 31237.39411 51193.98898 56770.12037 54597.87126 39467.21661 29068.49913 18234.09347 -6643.530219 17241.41923 3254.458632 50951.65933 41832.57903 42992.04916 55095.86621 19057.20606 42923.48012

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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A bank has a policy that the proportion of loans made to people with more than $50,000 in debt should not be more than 0.15. The bank checks a randomly chosen sample of 75 customer's debt amounts to determine if the proportion is more than 0.15 at a significance level of 0.05. Use Sheet 2 of the Excel file, which gives the customer's debt amounts for the 75 people in the sample, to calculate p^, the z-score, and the p-value.
 
p^=
z=
p=
 
Since the p-value is (less or greater?) than the significance level 0.05, the null hypothesis (is rejected or fails to be rejected?).
(Sufficient or insufficient?) evidence exists that the proportion of loans to people with more than $50,000 in debt is more than 0.15.
 
Chart:
51539.29919
8052.016591
35716.31651
37010.68615
31172.5786
31088.99026
20288.64299
52734.51646
-5422.706014
128.8534293
48485.9593
30025.21757
19891.47232
26803.72091
51758.66724
88069.44647
51200.96717
34994.21226
20571.92917
51976.89938
4703.651572
47336.17208
44720.10297
29360.12547
34616.27351
1017.557502
47474.0926
60065.8519
13371.59926
23704.18652
19126.3776
62162.22339
48230.8969
20272.32811
60161.59658
29444.76198
44479.55104
6768.065853
19667.51704
32922.45117
90692.2755
44316.06317
28841.62637
43494.54116
10604.87441
7064.773213
31668.88433
10825.55844
50646.80234
30806.62003
56348.36418
628.1745048
20646.31227
49066.35498
34841.71043
25866.6015
20601.17964
34887.22349
20777.51475
31237.39411
51193.98898
56770.12037
54597.87126
39467.21661
29068.49913
18234.09347
-6643.530219
17241.41923
3254.458632
50951.65933
41832.57903
42992.04916
55095.86621
19057.20606
42923.48012
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