Statistics - Hypothesis Testing Problem of Mortgages
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9.58 A sample of 100 mortgages approved during the current year showed that 31 were issued to a single-earner family or individual. The historical average is 25 percent. (a) At the .05 level of significance in a right-tailed test, has the percentage of single-earner or individual mortgages risen? Include a sketch of your decision rule and show all work. (b) Is this a close decision? (c) State any assumptions that are required.
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The expert examines a hypothesis test for mortgaged. Neat and step-by-step solutions are provided in Excel.
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