Question: A study by the Massachusetts Community & Banking Council found that Black and Latinx individuals are largely unable to borrow money at the same interest

    • A study by the Massachusetts Community & Banking Council found that Black and Latinx individuals are largely unable to borrow money at the same interest rate as white individuals (The Boston Globe, February 28, 2008). The following contingency table shows representative data for the city of Boston, cross-classified by race and type of interest rate received.

Type of interest rate on loan

Race

High-interest rate

Low-interest rate

Black

553

480

Latinx

265

324

White

491

3,701
  • Complete all of the following:
    • (a) At the 5% significance level, do the data indicate that the interest rate received on a loan is dependent on race? Show or explain your thinking.

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