Statistics & Probability

Problem 2 Starting in 2008, an increasing number of people found themselves facing mortgages that were worth more than the value of their homes. A fund manager who had invested in debt obligations involving grouped mortgages was interested in determining the group most likely to default on their mortgage. He speculates that the current average age of default is different from the known previous national average of 55 years old. To test this, a random sample of 30 who had defaulted was selectal; the following sample data reects the ages of the sampled individuals: 40 55 78 1'7 55 33 SI 76 54 6? 40 3] 60 6| $0 42 78 BO 25 38 'N 46 4H 5? 30 65 80 lb 46 49 (a) State the appropriate null and alto-native hypotheses. (1)) Construct a test to test the null hypothesis with a = 9.05