Part 2 of 5 Find the critical value(s). Round the answer(s) to at least three decimal places. If there is more than one critical value, separate them with commas.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 1GP
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Gooa creait: Tne rair isaac Corporation (FICO) creait score is used py panks ana orner ienaers to aetermine wnerner 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 FICO score is more than the cutoff of 720. She finds that a random sample of
50 people had a mean FICO score of 765 with a standard deviation of 98. Can the economist conclude that the mean FICO score
is greater than 720? Use the a =0.01 level of significance and the critical value method.
Part 1 of 5
(a) State the appropriate null and alternate hypotheses.
H,: μ-720
H: p > 720
This hypothesis test is a right-tailed
test.
Part: 1/5
Part 2 of 5
Find the critical value(s). Round the answer(s) to at least three decimal places. If there is more than one critical value,
separate them with commas.
O 国G
Transcribed Image Text:Gooa creait: Tne rair isaac Corporation (FICO) creait score is used py panks ana orner ienaers to aetermine wnerner 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 FICO score is more than the cutoff of 720. She finds that a random sample of 50 people had a mean FICO score of 765 with a standard deviation of 98. Can the economist conclude that the mean FICO score is greater than 720? Use the a =0.01 level of significance and the critical value method. Part 1 of 5 (a) State the appropriate null and alternate hypotheses. H,: μ-720 H: p > 720 This hypothesis test is a right-tailed test. Part: 1/5 Part 2 of 5 Find the critical value(s). Round the answer(s) to at least three decimal places. If there is more than one critical value, separate them with commas. O 国G
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