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9) The bad debt ratio for a financial institution is defined to be the dollar value...

9) 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 seven Ohio banks is selected and that the bad debt ratios (written in percentages) for these banks are 7%, 4%, 6%, 7%, 5%, 4%, and 9%. Banking officials claim that the mean bad debt ratio for all Midwestern banks is 7% and that the mean debt ratio for Ohio banks is lower. Is this a correct claim?

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p-value- Plt <-1. 449) 1O-0988 So

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