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 709.3 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 722 3 with a standard deviation of 81.1. 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. HoiH 709.3 H₁ H 709.3 (Type integers or decimals. Do not round). Identify the t-statistic to 89 (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 709.3 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 722 3 with a standard deviation of 81.1. 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. HoiH 709.3 H₁ H 709.3 (Type integers or decimals. Do not round). Identify the t-statistic to 89 (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 4BGP
Related questions
Question
![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 709.3. 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 722 3 with a standard deviation of 81.1. 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.
но-м 709.3
H₁ μ
709 3
(Type integers or decimals. Do not round.)
Identify the t-statistic.
=
NEMO
to = 89 (Round to two decimal places as needed.)
Identify the P-value.
P-value= (Round to three decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9f3275c9-de78-4508-8b10-389a0fd3ae98%2F942f8bcb-bc93-444d-bb24-81e58d23f753%2Fk10k80a_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 709.3. 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 722 3 with a standard deviation of 81.1. 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.
но-м 709.3
H₁ μ
709 3
(Type integers or decimals. Do not round.)
Identify the t-statistic.
=
NEMO
to = 89 (Round to two decimal places as needed.)
Identify the P-value.
P-value= (Round to three decimal places as needed.)
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