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 701.5.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 38 high-income individuals and found the sample mean credit score to be 721.2 with a standard deviation of 84.5. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the α=0.05 level of significance. State the null and alternative hypotheses. H0:μ=701.5 H1:μ>701.5 Identify the t-statistic. t0=_____ (Round to two 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 701.5.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 38 high-income individuals and found the sample mean credit score to be 721.2 with a standard deviation of 84.5. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the α=0.05 level of significance. State the null and alternative hypotheses. H0:μ=701.5 H1:μ>701.5 Identify the t-statistic. t0=_____ (Round to two decimal places as needed.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 8PPS
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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 701.5.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 38
high-income individuals and found the sample mean credit score to be
high-income individuals and found the sample mean credit score to be
721.2 with a standard deviation of 84.5. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the
α=0.05 level of significance. State the null and alternative hypotheses.
H0:μ=701.5
H1:μ>701.5
Identify the t-statistic.
t0=_____ (Round to two decimal places as needed.)
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