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 steps in your solution.
Determine p-value. Conduct Hypothesis test using p-value approach with α = .025. What is the test decision?
Determine Critical-Value. Conduct Hypothesis test using Critical-Value approach with α = .05. What is the test decision?
Do the results in parts c) and d) lead to different conclusions? Why or Why not?
Based on test decisions under parts c) and d), what conclusion would you draw?

PLEASE NO HANDWRITTEN ANSWERS,AND PLEASE WITH EXCEL FORMULAS!

Expert Solution

orchestra answered 1 year ago

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