The mortgage department of a large bank is interested in the nature of loans of first-time borrowers. This information will be used to tailor their marketing strategy. They believe that 40% of first-time borrowers take out smaller loans than other borrowers. They perform a hypothesis test to determine if the percentage is the same or different from 40%. They sample 100 first-time borrowers and find 53 of these loans are smaller than the other borrowers. For the hypothesis test, they choose a 5% level of significance. What would be the null and alternative hypotheses

Answers

Answer 1
Answer:

Answer:

Step-by-step explanation:

The null hypothesis is the statement or claim that is believed or assumed to be true. In this case, the null hypothesis is "They believe that 40% of first-time borrowers take out smaller loans than other borrowers". Since we are dealing with proportion, we will denote it with p. The null hypothesis would be

p = 0.4

The alternative hypothesis is what the researcher expects or predicts. It is the statement that is believed to be true if the null hypothesis is rejected. The alternative hypothesis is "They perform a hypothesis test to determine if the percentage is the same or different from 40%". It would be written as

p ≠ 0.4


Related Questions

Let X be the set of all 3×3 matrices whose diagonal entries are all 0. With the usual matrix addition and scalar multiplication, is X a vector space? (b) Let Y be the set of all 3 × 3 matrices whose diagonal entries add up to 0. With the usual matrix addition and scalar multiplication, is Y a vector space?
Choose the true statement.0-2<-3O-2» -3O -2 = -3
Which expression shows the ASSOCIATIVE PROPERTY? 3 + a + b = a + 3 + b 3(ab) = (3a)b (3 + a) + b = 3 + (a + b) 3 - a = 3 - b
Is this right? please correct me if I'm wrong.
Hellllllllllllllllllp plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Equation of the horizontal line that passes through the point (-5,1)

Answers

Answer:

y = -1.

Step-by-step explanation:

The value of y  is -1 as it passes through the y axis.  The values of x on the line are infinite.

This line's equation is y = -1.

-1 would be your answer.

Question 25 of 253 Points

Natalie went to the hardware store to buy a water filter and a deadbolt, and

while she was in the checkout line, she also threw some caulk and some

super glue into her shopping cart. Which two products were impulse

purchases?

A. The water filter and the super glue

B. The caulk and super glue

C. The caulk and the deadbolt

D. The water filter and the deadbolt

Answers

Answer:

B. The caulk and super glue

Step-by-step explanation:

An impulse purchase is when you decide to buy something you didn't plan to in the spur of the moment. For example, when you are shopping your groceries and you decide to buy a product you see and that you don't have in your list. According to this, the two products that were impulse purchases are caulk and super glue because Natalie didn't plan to buy these products and she decided to do it when she was in the checkout line to pay for the other products that she planned to buy.

Answer:

B.

Step-by-step explanation:

took the test

I need help on this please.Ivanna is staining the wooden floor of a court. The court is in the shape of a rectangle. Its length is 51 feet and its width is 32 feet. Suppose each can of wood stain covers 102 square feet. How many cans will she need to cover the court?

Answers

Answer: 16 cans

Step-by-step explanation:

51x32=1632sqft

1632/102=16 cans of wood stain

16 cans ,51x32=1632 square feet, divide that and it’s 16 cans

Find the surface area of a cylinder with a radius of 5 cm and a height of 30 cm. Use 3.14

Answers

Whole formula 2*pi*radius^2 + 2*pi*radius*height:

157+942= 1099

SA= 1099

In the diagram, the measure of angle 6 is 98.what is the measure of angle 7?what is the measure of angle 7?

56 degrees
84 degrees
96 degrees
124 degrees

Answers

the answer his 24 degrees

A statistic is a characteristic of a sample while a parameter is usually an unknown population parameter?True

False

Answers

This should be Correct-

Answer:

True

Explanation:

A statistic is a characteristic of a sample, a portion of the target population. A parameter is a fixed, unknown numerical value, while the statistic is a known number and a variable which depends on the portion of the population.

Parameter Definition: a quantity or statistical measure that, for a given population, is fixed and that is used as the value of a variable in some general distribution or frequency function to make it descriptive of that.

Population: The mean and variance of a population are population parameters.

Statistic Definiton: A statistic or sample statistic is any quantity computed from values in a sample that is used for a statistical purpose. Statistical purposes include estimating a population parameter, describing a sample, or evaluating a hypothesis. The average of sample values is a statistic.

The answer is: true

Hope this helps! Happy holidays;)