Please solve the problems using Minitab as the tool.For each problem, (1) specify the business and statistical hypotheses, (2) specify what the Type I and Type II errors are in this business context, and, the implications of making those errors, (3) include the results from Minitab, (4) draw appropriate conclusions to your statistical hypotheses based on the results, and, finally, (5) present the business conclusions in a short non-statistical summary.

1. Meier and Frank is a chain of department stores located in the Northwest.The company has issued its own credit cards for a number of years.As a new employee in the finance department, imagine that you have been assigned to a major investigation of the firm's credit policies designed to reduce bad debt losses.You are requested to investigate the relationship between marital status at the time the card is issued and the subsequent payment record of the individual.

You randomly select 100 credit cards issued three years previously.Of the 70 individuals that were married at the time the cards were issued, 11 have defaulted on a payment.Of the 30 individualswho were single when the cards were issued, 7 have defaulted.Do these data present sufficient evidence to indicate that marital status affects credit-worthiness?Use Alpha = 0.05.