USA TODAY reported that 21% of loans granted by credit unions were for home mortgages, 39% were for automobile purchases, 20% were for credit card and other unsecured loans, 12% were for real estate other than home loans, and 8% were for other miscellaneous needs. To see if her credit union customers had similar needs, a manager surveyed a random sample of 100 loans and found that 25 were for home mortgages, 44 for automobile purchases, 19 for credit card and other unsecured loans, 8 for real estate other than home loans, and 4 for miscellaneous needs. At α = 0.05, is the distribution the same as reported in the newspaper?
USA TODAY reported that 21% of loans granted by credit unions were for home mortgages, 39% were for automobile purchases, 20% were for credit card and other unsecured loans, 12% were for real estate other than home loans, and 8% were for other miscellaneous needs. To see if her credit union customers had similar needs, a manager surveyed a random sample of 100 loans and found that 25 were for home mortgages, 44 for automobile purchases, 19 for credit card and other unsecured loans, 8 for real estate other than home loans, and 4 for miscellaneous needs. At α = 0.05, is the distribution the same as reported in the newspaper?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 28PPS
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USA TODAY reported that 21% of loans granted by credit unions were for home mortgages, 39% were for automobile purchases, 20% were for credit card and other unsecured loans, 12% were for real estate other than home loans, and 8% were for other miscellaneous needs. To see if her credit union customers had similar needs, a manager surveyed a random sample of 100 loans and found that 25 were for home mortgages, 44 for automobile purchases, 19 for credit card and other unsecured loans, 8 for real estate other than home loans, and 4 for miscellaneous needs. At α = 0.05, is the distribution the same as reported in the newspaper?
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