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 708.9. 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 39 high-income individuals and found the sample mean credit score to be 719.9 with a standard deviation of 84.6. 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 H4: u (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.)

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 708.9. 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 39 high-income individuals and found the sample mean credit score to be 719.9 with a standard deviation of 84.6. 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 H4: u (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.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 30PPS

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