Margo borrows $1600, agreeing to pay it back with 2% annual interest after 7 months. How much
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The table is not clear, so i have attached it.
Answer:
z statistic is -2.26
This is less than our alpha level,therefore we reject the null hypothesis and conclude that there is a significant difference in the proportion of homeowners between first generation and second generation Hispanic Americans
Step-by-step explanation:
From the attached table, we can see that;
first-generation hispanic americans; (N = 899 and percentage = 43%
second-generation hispanic americans; N = 351 and percentage = 50%
first-generation asian americans; (N = 2,684 and percentage = 58%
second-generation asian americans; N = 566 and percentage = 51%
Z-score formula in this case is;
z = (p1^ - p2^)/(√(p^(1 - p^)((1/n1) + (1/n2))
Where;
p^ = (p1 + p2)/(n1 + n2)
For, hispanic americans we have;
p1^ = 0.43 × 899 = 386.57
p2^ = 0.5 × 351 = 175.5
p^ = (386.57 + 175.5)/(899 + 351)
p^ = 0.45
Thus;
z = (0.43 - 0.5)/(√(0.45(1 - 0.45)((1/899) + (1/351))
z = -2.26
From z-distribution table, we have;
P-value = 0.01191
Since we have 2 samples, then probability = 2 × 0.01191 = 0.02382
This is less than our alpha level of 0.05,therefore we reject the null hypothesis and conclude that there is a significant difference in the proportion of homeowners between first generation and second generation Hispanic Americans.
