The Small Business Administration (SBA) is a government run organization that oversees the microloan program for small businesses. Microloans are small, short term loans that are less than $ 25,000 with less than a six year term. Due to tougher credit guidelines, the SBA is concerned that microloan amounts have been declining. To investigate this, suppose the SBA collected a random sample of microloans from 2006 and a random sample from 2013. The loan amounts are as follows, in thousands of dollars. These data can also be found in the Excel file microloan.xlsx.
Using α = 0.05, perform a hypothesis test to determine if the median microloan amount in 2013 was less than the median microloan amount in 2006.
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