a2 Calculate the Test statistic Carry out all intermediate c

(a-2) Calculate the Test statistic. (Carry out all intermediate calculations to 2 decimal places. Round your answer to 4 decimal places.) Test statistic Required information (The following information applies to the questions displayed below.] A sample of 102 mortgages approved during the current year showed that 41 were issued to a single-earner family or individual. The historical percentage is 33 percent.

Solution

p=41/102 =0.40

The test statistic is

Z=(phat-p)/sqrt(p*(1-p)/n)

=(0.40-0.33)/sqrt(0.33*(1-0.33)/102)

=1.5035