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    One sample t test

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    I am stumped on the following problem and could use some help quickly. Please provide guidance on how to solve the problem.

    1) The probability of default on a certain type of commercial loan is 0.10. If a bank makes 100 of these loans, what is the probability that at least 16 will default?

    A) 0.0475
    B) 0.0228
    C) 0.0336
    D) 0.4664

    2) For a one-tailed test of hypothesis for a single population mean with 13 degrees of freedom, the value of the test statistic was 1.863. The p-value is

    A) between .05 and .025.
    B) between .10 and .05
    C) greater than .10
    D) less than .001.

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    Solution Summary

    The solution provides step by step method for the calculation of test statistic for t test. Formula for the calculation and Interpretations of the results are also included.