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A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table or F table) Type of Interest Rate on Loan Race High Interest Rate Lower Interest Rate Black 553 480 Latino 265 324 White 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race? a. Choose the appropriate null and alternative hypotheses. O Ho: Interest rate received is independent of race.; Ha: Interest rate received is dependent on race. O Họ: Interest rate received is dependent of race.; H2: Interest rate received is independent on race. b-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic

A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table or F table) Type of Interest Rate on Loan Race High Interest Rate Lower Interest Rate Black 553 480 Latino 265 324 White 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race? a. Choose the appropriate null and alternative hypotheses. O Ho: Interest rate received is independent of race.; Ha: Interest rate received is dependent on race. O Họ: Interest rate received is dependent of race.; H2: Interest rate received is independent on race. b-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.2: Representing Data
Problem 22PFA
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A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table or F table) Type of Interest Rate on Loan Race High Interest Rate Lower Interest Rate Black 553 480 Latino 265 324 White 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race? a. Choose the appropriate null and alternative hypotheses. Họ: Interest rate received is independent of race.; Hz: Interest rate received is dependent on race. Họ: Interest rate received is dependent of race.; Ha: Interest rate received is independent on race. b-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic
Transcribed Image Text:A study by the Massachusetts Community & Banking Council found that blacks, and, to a lesser extent, Latinos, remain largely unable to borrow money at the same interest rate as whites (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received: (You may find it useful to reference the appropriate table: chi-square table or F table) Type of Interest Rate on Loan Race High Interest Rate Lower Interest Rate Black 553 480 Latino 265 324 White 491 3,701 At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race? a. Choose the appropriate null and alternative hypotheses. Họ: Interest rate received is independent of race.; Hz: Interest rate received is dependent on race. Họ: Interest rate received is dependent of race.; Ha: Interest rate received is independent on race. b-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic
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