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.
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