Solution-Loan officer reviewing the loan application

Loan officer reviewing the loan application

Reference no: EM13860369

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 ApprovalDecision
LoanOfficer	Rejected	Approved	Total
Sean	14	12	26
Bruce	14	18	32
Debbie	16	34	50
Susie	16	26	42
Total	60	90	150

a) State the Null and Alternate Hypotheses.

b) Determine the value of the test statistic.

c) Determine p-value. Conduct Hypothesis test using p-value approach with α = .025. What is the test decision?

d) Determine Critical-Value. Conduct Hypothesis test using Critical-Value approach with α = .05. What is the test decision?

e) Do the results in parts c) and d) lead to different conclusions? Why or Why not?

f) Based on test decisions under parts c) and d), what conclusion would youdraw?

Reference no: EM13860369

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Loan officer reviewing the loan application : 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.

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Loan officer reviewing the loan application

Reference no: EM13860369

Reference no: EM13860369

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