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Mathematics, 18.12.2021 20:10 clarajeansonels9987
The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted divided by the total dollar value of all loans made. Suppose that a random sample of 7 Ohio banks is selected and that the bad debt ratios (written as percentages) for these banks are 7%, 9%, 9%, 9%, 9%, 6%, and 7%.
Assuming that bad debt ratios for Ohio banks are approximately normally distributed, use critical values and the given sample information to test the hypotheses you set up in part a by setting α equal to .01. (Round your answers to 3 decimal places.)
t=
t0.01=
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