Are bank loans getting worse?

The previous CHITEST() experiment had equal expected probabilities. However, it is often the case that there are multiple states of an experiment, referred to as degrees of freedom.
Furthermore, not all experiment outcomes are equal - some may be more or less likely.

In this exercise, a senior vice president at a bank believes the loans of the bank are getting worse. A loan can have these states:

• Current: in good standing
• Grace Period: the loan hasn't made a payment but is late by less than 30 days
• Late 30-60: the loan is past due 30-60 days
• Late 60-90: the loan is past due 60+ days
• Collections: the loan was sent to collections to recieve any payment
• Charged Off: the loan has no value

You decide to test this hypothesis against the bank's expected distribution for these states. For example, the bank expects 80% of loans to be current each month. A chi-squared test comparing the observed loan frequencies with expected will help you determine if the VP's estimation is correct.