A state’s Department of Commerce reports that 78 percent of all small businesses that applied for a loan were approved. That claim makes us wonder if it is accurate. ( If we wanted the true proportion of all applicants that were approved with 95 percent confidence and be within 3.25 percent of the true proportion, how many applications should they sample? (Suppose that we took a random sample of 1200 and found that 1014 were approved for their applied loan. Is there reason to be alarmed about the claim? Build a 98 percent confidence interval. Note: You are to show and explain all calculator commands and inputs that assist you in arriving at the final answer. (Interpret what 98 percent confidence means in this context. ( Is there cause for concern that the claimed rate is not what our study shows?
A state’s Department of Commerce reports that 78 percent of all small businesses that applied for a loan were approved. That claim makes us wonder if it is accurate. ( If we wanted the true proportion of all applicants that were approved with 95 percent confidence and be within 3.25 percent of the true proportion, how many applications should they sample? (Suppose that we took a random sample of 1200 and found that 1014 were approved for their applied loan. Is there reason to be alarmed about the claim? Build a 98 percent confidence interval. Note: You are to show and explain all calculator commands and inputs that assist you in arriving at the final answer. (Interpret what 98 percent confidence means in this context. ( Is there cause for concern that the claimed rate is not what our study shows? Explain. ver the years 74 percent of females and 69 percent of males pass math and science classes as students. We would like to understand if females pass math science more readily. We took a sample of 360 females and 570 male students from the country at random. Do females pass math and science more readily? (Assume significance level of level. (test an appropriate hypothesis and state your conclusion. Note: You are to show and explain all calculator commands and inputs that assist you in arriving at the final answer. ( Calculate the standard error for the above context. ( Setup the 98% confidence interval for the difference in the true proportion of male and female students who pass math and science. Interpret the confidence interval and determine if there is a significant difference between the two groups.
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