IA Ex. 17.5
A large banking corporation believes that 80% of the loan applications
it receives are approved within 24 hours. It decides to take a random
sample of 10 loan applications every day for 3 months and record the
number of the applications that are approved within 24 hours. The
following data are obtained:
Statistics Homework Solutions
#10909
Analysis of qualitative data
a). Set up the necessary hypotheses to test whether the data come from a binomial distribution with n = 10 and = 0.80.
b). Find the expected frequency distribution for the data.
c). A the 0.05 level of significance, is it reasonable to assume that the number of loan applications that are approved in 24 hours has a binomial distribution with = 0.80.
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