A Report on the U $28 \%$ Of Americans Have Experienced Difficulty in Making Mortgage Payments

question 17

Multiple Choice

A report on the U.S. economy indicates that $28 \%$ of Americans have experienced difficulty in making mortgage payments. A news organization randomly sampled 400 Americans from 10 cities named the "fastest dying cities in the U.S." (Forbes Magazine, August 2008) and found that 136 reported such difficulty. Does this indicate that the problem is more severe among these cities? The correct value of the test statistic for testing this claim is

• A) \(z = 1.28\)
• B) \(z = - 1.28\)
• C) \(z = 1.96\)
• D) \(z = - 2.67\)
• E) \(z = 2.67\)

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Definitions:

Noncash Investing

Investment activities that do not involve a direct outlay of cash, such as acquiring assets through a lease or earning stock in exchange for a service.

Common Shares

Equity securities that represent ownership in a company, providing voting rights and a claim on a portion of the company's profits.

Financing Activities

Transactions related to obtaining or repaying capital, such as issuing equity or taking out loans.