Question: Based on its home ownership survey home mortgage giant Fannie
Based on its home ownership survey, home mortgage giant Fannie Mae reports “significant differences in home buying knowledge between demographic groups.”In a random sample of 236 college educated adults and 259 high school educated adults, the survey found that 65% of those in the college sample and 60% in the high school sample were aware that a mortgage does not require a 30year commitment. With regard to this particular knowledge issue, can these sample results be used to reject a “no difference in population proportions” null hypothesis for the two populations represented? Use a significance level of 5%. Explain your answer.
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