Question
In: Statistics and Probability
A lending institution supplied the following data on loan approvals by four loan officers. Use α...
A lending institution supplied the following data on loan approvals by four loan officers. Use α = .05 and test to determine whether the loan approval decision is associated with the loan officer reviewing the loan application.
|
Loan Approval Decision |
|||
|
Loan Officer |
Approved |
Rejected |
|
|
Miller |
24 |
16 |
|
|
McMahon |
17 |
13 |
|
|
Lee |
35 |
15 |
|
|
Sanchez |
11 |
9 |
|
Hint: Consider what types of variable Loan Officer and Approval Decision are.
Conduct a hypothesis test and upload a file with your answer. To receive full credit your answer must include the following:
- State the null and alternative hypotheses. Hint: For this type of problem Ho and Ha are shown using English sentences, not mathematical symbols.
- Give the symbol used for the test statistic for this test.
- Calculate the value of the test statistic for this data.
- Calculate the degrees of freedom needed to evaluate the test statistic.
- Give a range for the p-value if you are using a table, or you can give an exact p-value if you are using a computer or calculator.
- State whether you reject or fail to reject Ho.
- Interpret your answer with a sentence in English that someone who has not studied statistics would understand.
Solutions
orchestra answered 2 years agoRelated Solutions
A lending institution supplied the following data on loan approvals by four loan officers. Conduct an...
A lending institution supplied the following data on loan
approvals by four loan officers. Conduct an appropriate Hypothesis
test to determine whether the loan approval decision is independent
of the loan officer reviewing the loan application.
Loan Approval Decision
Loan Officer
Rejected
Approved
Total
Sean
14
12
26
Bruce
14
18
32
Debbie
16
34
50
Susie
16
26
42
Total
60
90
150
State the Null and Alternate
Hypotheses.
Determine the value of the test statistic. Show all...
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use α = 0.05 (level of
significance)
Treatment 1
Treatment 2
Treatment 3
63
82
69
47
72
54
54
88
61
40
66
48
sample mean
51
77
58
sample variance
96.67
97.34
81.99
a. Use analysis of variance to test for a significant difference
among the means of the three treatments.
b. Use Fisher’s LSD procedure to determine which means are
different.
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
64
81
68
48
71
55
53
88
60
43
64
49
xj
52
76
58
sj2
80.67
112.67
64.67
(a)Use analysis of variance to test for a significant difference
among the means of the three treatments.
State the null and alternative hypotheses.
H0: At least two of the population means are
equal.
Ha: At least two...
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
62
83
68
46
71
55
53
88
62
39
70
47
xj
50
78
58
sj2
96.67
79.33
82.00
(a)
Use analysis of variance to test for a significant difference
among the means of the three treatments.
State the null and alternative hypotheses.
H0: At least two of the population means are
equal.
Ha: At least...
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
64
82
69
48
73
53
55
89
61
37
68
45
xj
51
78
57
sj2
130.00
87.33
106.67
Find the value of the test statistic. (Round your answer to two
decimal places.)___
Find the p-value. (Round your answer to three decimal
places.)
p-value = ____
+Use Fisher's LSD procedure to determine which means are
different....
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
63
82
69
46
72
54
53
87
62
46
63
47
xj
52
76
58
sj2
64.67
114.00
91.33
(a)
Use analysis of variance to test for a significant difference
among the means of the three treatments.
State the null and alternative hypotheses.
H0: μ1 =
μ2 = μ3
Ha: Not all the population means are...
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
62
82
69
46
73
53
53
89
61
39
60
45
xj
50
76
57
sj2
96.67
156.67
106.67
(a)
Use analysis of variance to test for a significant difference
among the means of the three treatments.
State the null and alternative hypotheses.
H0: μ1 ≠
μ2 ≠ μ3
Ha: μ1 =
μ2 = μ3
H0:...
The following data are from a completely randomized design. In the following calculations, use α =...
The following data are from a completely randomized design. In
the following calculations, use
α = 0.05.
Treatment
1
Treatment
2
Treatment
3
64
81
68
48
73
53
53
89
60
43
69
55
xj
52
78
59
sj2
80.67
78.67
44.67
(a) Use analysis of variance to test for a significant
difference among the means of the three treatments.
State the null and alternative hypotheses.
H0: μ1 ≠
μ2 ≠ μ3
Ha: μ1 =
μ2 = μ3
H0:...
Given the following data, use exponential smoothing with a = 0.3 and α =.5 to develop...
Given the following data, use exponential smoothing with a = 0.3
and α =.5 to develop a demand forecasts for period
7. Assume that the forecast for week 1= 19. Use the Mean
Absolute Percent Error to determine which forecasts are more
accurate.
Period
1
2
3
4
5
6
Demand
17
19
15
19
13
18
A small mortgage lender has one receptionist, four loan officers, and two office managers. When applicants...
A small mortgage lender has one receptionist, four loan
officers, and two office managers. When applicants apply for a new
loan in person, they first fill out paperwork with the
receptionist. Then the applicants meet with one of the loan
officers to discuss their needs. The loan officer spends additional
time processing the application after the applicants leave the
office. Finally, the application must be reviewed by an office
manager before it can be approved. The following table lists the...
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