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A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cred tworthiness of individuals. Val uos range from 300 to 850, wth a credit score over 700 considered to he a quality credit risk. According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income indiv iduals (incomes in excess of $100,000 per year) had higher credit scores. He aota ned a random sample of 41 high income individuals and found the sample mean credit score to be 715.9 with a standard deviation of 81.9 Conduct the appropriate test to determine if high-income individuals have higiher credit scores at the a=0 05 level af significance. State the null and alternative hypotheses. (Type integers or decimais. Do not round.) Identify the t- statistic Ln = i (Round 10 two decimal places as eeded.) Ideritity the P value. P-value = (Round to tihsce decimal olaces as needed) Make a conclusion regarding the hypothesis. T the null hypothesis. There V sutticient ev dence to cam thal the mean credit SCOIÇ of ligh-ncnme individusls is Next Statcrunch O O A Vi 10:35

A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cred tworthiness of individuals. Val uos range from 300 to 850, wth a credit score over 700 considered to he a quality credit risk. According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income indiv iduals (incomes in excess of $100,000 per year) had higher credit scores. He aota ned a random sample of 41 high income individuals and found the sample mean credit score to be 715.9 with a standard deviation of 81.9 Conduct the appropriate test to determine if high-income individuals have higiher credit scores at the a=0 05 level af significance. State the null and alternative hypotheses. (Type integers or decimais. Do not round.) Identify the t- statistic Ln = i (Round 10 two decimal places as eeded.) Ideritity the P value. P-value = (Round to tihsce decimal olaces as needed) Make a conclusion regarding the hypothesis. T the null hypothesis. There V sutticient ev dence to cam thal the mean credit SCOIÇ of ligh-ncnme individusls is Next Statcrunch O O A Vi 10:35

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cred tworthiness of individuals. Valuos range from 300 to 850, wth a credit score over 700 considered to he a quality credit risk. According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income indiv iduals (incomes in excess of $100,000 per year) had higher credit scores. He aotained a random sample of 41 high income individuals and found the sample mean credit score to bo 715.9 with a standard deviation of 81.9 Condu the appropriate test to determine if high-income individuals have higher credit scores at the a=0 05 level af significance. Stato the null and alternative hypotheses. Ho: 4 (Type integers or decimais. Do not round.) Identify the t-statistic Lo = (Round 10 two decimal places as needed.) Identity the P value. P-value = (Round to thrce decimal olaces as needed) Make a conclusion regarding the hypothesis. the null hypothesio. There sufficient ev dence to caim thal the mean credit score of high-nenme individuels is Next Statcrunch O O A VI 10:35
Transcribed Image Text:A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cred tworthiness of individuals. Valuos range from 300 to 850, wth a credit score over 700 considered to he a quality credit risk. According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income indiv iduals (incomes in excess of $100,000 per year) had higher credit scores. He aotained a random sample of 41 high income individuals and found the sample mean credit score to bo 715.9 with a standard deviation of 81.9 Condu the appropriate test to determine if high-income individuals have higher credit scores at the a=0 05 level af significance. Stato the null and alternative hypotheses. Ho: 4 (Type integers or decimais. Do not round.) Identify the t-statistic Lo = (Round 10 two decimal places as needed.) Identity the P value. P-value = (Round to thrce decimal olaces as needed) Make a conclusion regarding the hypothesis. the null hypothesio. There sufficient ev dence to caim thal the mean credit score of high-nenme individuels is Next Statcrunch O O A VI 10:35
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