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The Serious Delinquency Rate Measures the Proportion of Homes That

question 22

Essay

The serious delinquency rate measures the proportion of homes that are well behind on their mortgage payments. A real estate investor is trying to decide in which of two neighborhoods in Phoenix to buy an investment property. He is trying to decide if the serious delinquency rate differs between the two neighborhoods. He took a sample of 70 homes in neighborhood 1 and found 14 homes were seriously delinquent. He took a sample of 80 homes in neighborhood 2 and 10 homes were seriously delinquent.
A) Specify the competing hypotheses to determine if the delinquency rates in the two neighborhoods are equal.
B) Calculate the value of the test statistic and the p-value.
C) Make a conclusion at the 10% significance level. How should the delinquency rate influence the investor's decision?

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Definitions:

Tariff

A Tariff is a tax imposed by a government on imported goods, often used to protect domestic industries from foreign competition.

Opportunity Cost

Giving up the chance to benefit from other opportunities by selecting a specific option.

Dalers

A currency that was used in the past in various countries and territories, including Denmark and the United States.

Comparative Advantage

The capability of a nation or business to manufacture a specific product or offer a service at a lesser opportunity cost compared to its rivals.