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11-07-2020
Mathematics

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To determine if loans from bank 1 are less affordable than loans from bank 2, the mean loan rate of the two competing banks is compared. Twenty-five loans are randomly sampled from each bank and the loan rates are recorded. Both populations have normal distributions with unknown standard deviations. State the null and alternative hypotheses.

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12-07-2020

Answer:

Step-by-step explanation:

The null hypothesis is an smoothies l that states that there is no difference or association between populations while the alternative hypothesis always aims to prove otherwise.

In this case study, the null hypothesis is that loans from bank 1 are more affordable than loans from bank 2. Bank 1 average loan >= bank 2 average loan.

Alternative hypothesis: loans from bank 1 are less affordable than loans from bank 2

Bank 1 average loan < bank 2 average loan.

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