A rent-to-own agreement allows the renter to either return the merchandise after a specified period of...

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A rent-to-own agreement allows the renter to either return themerchandise after a specified period of time or apply the monthlypayments toward purchasing the item(s) (or clearly, the rentercould default on the agreement). A rent-to-own company reports thatnationally 62% of the agreements result in the merchandise beingreturned, 29% of the agreements result in the merchandise beingpurchased, and the remaining agreements are defaulted on (consumerdoes not make required payments specified in the contract). At alocal rent-to-own company, a sample of 210 agreements finds that110 result in the merchandise being returned, 78 agreements resultin the merchandise being purchased and the remaining agreements aredefaulted upon. When testing (at the 5% level of significance)whether the proportions of the local company are different than theproportions nationally, what is the test statistic (please roundyour answer to 3 decimal places)

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A rent-to-own agreement allows the renter to either return themerchandise after a specified period of time or apply the monthlypayments toward purchasing the item(s) (or clearly, the rentercould default on the agreement). A rent-to-own company reports thatnationally 62% of the agreements result in the merchandise beingreturned, 29% of the agreements result in the merchandise beingpurchased, and the remaining agreements are defaulted on (consumerdoes not make required payments specified in the contract). At alocal rent-to-own company, a sample of 210 agreements finds that110 result in the merchandise being returned, 78 agreements resultin the merchandise being purchased and the remaining agreements aredefaulted upon. When testing (at the 5% level of significance)whether the proportions of the local company are different than theproportions nationally, what is the test statistic (please roundyour answer to 3 decimal places)