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Q1) Recent default rate on all student loans is 5.2%. In recent random sample of 300 loans at private universities there were 9 defaults.
Question 1:
Does this sample illustrate enough evidence that private university loan default rate is below rate for all universities, using left-tailed test at α = .01?
a) Select the suitable hypothesis.
H0: π ≥ .052; H1: π < .052. Reject H0 if z < -2.33.
H0: π ≥ .052; H1: π < .052. Accept H0 if z < -2.33
b) What is the z score for the sample data?
c) Must the null hypothesis be rejected?
Yes
No
Question 2:
a) Compute the p-value.
b) Supposition of normality is justified.
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