Answer on Statistics and Probability Question for venotini
A firm has classified its customers in two ways: (1) according to whether the account is overdue and (2) whether the account is new (less than 12 months) or old. To acquire information about which customers are paying on time and which are overdue, a random sample of 292 customer accounts was drawn. Each was categorized as either a new account or an old account, and whether the customer has paid or is overdue. The results are summarized next.
New account Old account
Sample size 83 209
Overdue account 12 49
Is there enough evidence at the 5% significance level to infer that new and old accounts are different with respect to overdue accounts?
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