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Loan officer reviewing the loan application

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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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