Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 850, with a score of 720 or more indicating that a person is a very good credit risk. An economist wants to determine whether the mean FICC score is lower than the cutoff of 720. She finds that a random sample of 55 people had a mean FICO score of 685 with a standard deviation of 80. Can the economist conclude that the mean FICO score is less than 720? Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator. Part: 0 / 4 Part 1 of 4 State the appropriate null and alternate hypotheses. Н ロ<ロロ>ロロ=ロ H,: ロロ This hypothesis test is a (Choose one) v test. Part 2 of 4 Compute the P-value. Round the answer to at least four decimal places. P-value =

Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 850, with a score of 720 or more indicating that a person is a very good credit risk. An economist wants to determine whether the mean FICC score is lower than the cutoff of 720. She finds that a random sample of 55 people had a mean FICO score of 685 with a standard deviation of 80. Can the economist conclude that the mean FICO score is less than 720? Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator. Part: 0 / 4 Part 1 of 4 State the appropriate null and alternate hypotheses. Н ロ<ロロ>ロロ=ロ H,: ロロ This hypothesis test is a (Choose one) v test. Part 2 of 4 Compute the P-value. Round the answer to at least four decimal places. P-value =

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.7: Probability

Problem 4SE: What is the difference between events and outcomes? Give an example of both using the sample space...

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