The mortgage department of a large bank is interested in nature of loans of first time borrowers. This information will be used to tailor their marketing strategy. They believe that 50% of first-time borrowers take out smaller loans than other borrowers. Test to determine if the percentage is the same. They sample 100 first time borrowers and find that 61 of these loans are smaller that the other borrowers. Use a 5% level of significance. a. Test the claim
b. Construct a 95% confidence level for the proportion of first time smaller borrowers than other borrowers.

50 min

step-by-step explanation:

they will be decreasing both their times in half

60 / 2 = 30

40/2 = 20

30 + 20 = 50

step-by-step explanation:

1. practice, practice & more practice

2. review errors

3. master the key concepts

do not try to memorise the processes.

4. understand your doubts.

5. create a distraction free study environment

6. create a mathematical dictionary

7. apply maths to real world problems.

step-by-step explanation:

we are given

since, we have to isolate x on anyone side

so, we can move all x terms on one side

subtract both sides by 2x

add both sides by 9

divide both sides by 4

we get