Bennie took out a 30-year loan for $165,000 at 5.2% interest, compounded monthly. If his monthly payment on the loan will remain
2 answers:
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Answer:
p-value: 1.000
There is enough evidence at the 1% level of significance to suggest that the proportions are not equal.
Step-by-step explanation:
We will be conducting a difference of 2 proportions hypothesis test
The hypothesis for this test is:
H_0: p1 - p2=0
H_a: p1 - p2 ≠0
(p1 ) = 252/300 = 0.84
(p2) = 195/300 = 0.65
This is a 2 tailed test with a significance level of 1%. So our critical values are: z > 2.575 and z < -2.575
See the attached photo for the calculations for this test
Step-by-step explanation:
check the pic
answer is 4
