The recent default rate on all student loans is 68 percent

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The recent default rate on all student loans is 6.8 percent. In a recent random sample of 293 loans at private universities, there were 11 defaults.

a) Calculate the z-score for the sample data using a left-tailed test at ? = .01? (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.)

b) Calculate the p-value. (Round your answer to 4 decimal places.)

Reference no: EM13637655

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