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A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 700.5. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 31 high-income individuals and found the sample mean credit score to be 717.1 with a standard deviation of 84.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. State the null and alternative hypotheses. H1: p (Type integers or decimals. Do not round.) Identify the t-statistic. tn = (Round to two decimal places as needed.) Identify the P-value. P-value = (Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. V the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is

A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 700.5. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 31 high-income individuals and found the sample mean credit score to be 717.1 with a standard deviation of 84.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. State the null and alternative hypotheses. H1: p (Type integers or decimals. Do not round.) Identify the t-statistic. tn = (Round to two decimal places as needed.) Identify the P-value. P-value = (Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. V the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is

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 14PPS
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Question Help ▼ A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 700.5. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 31 high-income individuals and found the sample mean credit score to be 717.1 with a standard deviation of 84.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. State the null and alternative hypotheses. Ho: H 7 H: p (Type integers or decimals. Do not round.) Identify the t-statistic. to = (Round to two decimal places as needed.) Identify the P-value. P-value = (Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. V the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is Enter your answer in each of the answer boxes. entary Statistics Section OL1 Spring 2021 CO) is based on Sullivan: Fundamentals of Statistics, 5e vacy Policy Copyright © 2021 Pearson Education Inc. All Rights Reserved.
Transcribed Image Text:Question Help ▼ A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 700.5. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 31 high-income individuals and found the sample mean credit score to be 717.1 with a standard deviation of 84.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. State the null and alternative hypotheses. Ho: H 7 H: p (Type integers or decimals. Do not round.) Identify the t-statistic. to = (Round to two decimal places as needed.) Identify the P-value. P-value = (Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. V the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is Enter your answer in each of the answer boxes. entary Statistics Section OL1 Spring 2021 CO) is based on Sullivan: Fundamentals of Statistics, 5e vacy Policy Copyright © 2021 Pearson Education Inc. All Rights Reserved.
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