This topic contains a solution. Click here to go to the answer

Author Question: Four percent of the customers of a mortgage company default on their payments. A sample of five ... (Read 49 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
Four percent of the customers of a mortgage company default on their payments. A sample of five customers is selected. What is the probability that exactly two customers in the sample will default on their payments?
 a. .2592
  b. .0142
  c. .9588
  d. .7408

Question 2

Consider the following hypothesis test: H0: p  .8 Ha: p > .8 A sample of 400 provided a sample proportion of .853.
 a. Determine the standard error of the proportion.
  b. Compute the value of the test statistic.
  c. Determine the p-value; and at a 5 level, test the above hypotheses.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

C.mcnichol98

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

b

Answer to Question 2

a. .02
b. z = 2.65
c. p-value = .004; reject H0




jon_i

  • Member
  • Posts: 549
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it


essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

For a complete list of videos, visit our video library