A housing loan corporation states that it sanctions 80% of all housing loans within 7 working days once the verification process is completed. A customer group believes that all housing loans applied to this corporation that are settled within 7 working days is less than 80% of all housing loans. In a sample of 120 housing loan applications, the group found that 92 were settled within 7 working days. State the null and the alternative hypotheses.
H_0: p = 0.8 vs. H_a: p notequalto 0.8
H_0: p = 0.8 vs. H_a: p > 0.8
H_0: p = 0.8 vs. H_a: p lessthanorequalto 0.8
H_0: p = 0.8 vs. H_a: p greaterthanorequalto 0.8
H_0: p = 0.8 vs. H_a: p < 0.8
Find the point estimate of the population proportion.
0.80
0.23
0.77
0.50
0.20
Calculate the value of the test statistic.
-0.933
0.913
0.933
-0.913
-0.863

a)

Answer : d)

Null hypothesis:-H₀ : p =0.8

Alternative Hypothesis :H₁: p < 0.8

b)

Answer : c)0.77

point estimate of the population proportion= 0.77

c)

Answer : e) -0.863

Step-by-step explanation:

step(i):-

Given Population proportion 'p' =80% = 0.80

Given   a sample of 120 housing loan applications, the group found that 92 were settled within 7 working days.

Sample proportion or point estimation

Null hypothesis:-H₀ : p =0.8

Alternative Hypothesis :H₁: p < 0.8

Step(ii):-

Test statistic

population proportion p =0.8

                                 q = 1-p = 1-0.8 =0.2

     Z = -0.863

|Z| = | -0.863| = 0.863 < 1.96 at 0.05 level of significance

Null hypothesis is accepted

. A customer group believes that all housing loans applied to this corporation that are settled within 7 working days is equal to the 80% of all housing loans.

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

my dear correct answer is option number 3