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Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
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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 709.1. 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 41 high-income individuals and found the sample
mean credit score to be 724.2 with a standard deviation of 84.5. 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.
709.1
H,:p > 709.1
(Type integers or decimals. Do not round.)
Identify the t-statistic.
to
(Round to two decimal places as needed.)
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 709.1. 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 41 high-income individuals and found the sample mean credit score to be 724.2 with a standard deviation of 84.5. 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. 709.1 H,:p > 709.1 (Type integers or decimals. Do not round.) Identify the t-statistic. to (Round to two decimal places as needed.)
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