Question Help 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...


Question Help<br>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<br>quality credit risk. According to a survey, the mean credit score is 708.2. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He<br>obtained a random sample of 30 high-income individuals and found the sample mean credit score to be 722.6 with a standard deviation of 81.4. Conduct the appropriate test to determine if high-income<br>individuals have higher credit scores at the a = 0.05 level of significance.<br>State the null and alternative hypotheses.<br>H1:<br>(Type integers or decimals. Do not round.)<br>Identify the t-statistic.<br>to = (Round to two decimal places as needed.)<br>Identify the P-value.<br>P-value =(Round to three decimal places as needed.)<br>Make a conclusion regarding the hypothesis.<br>V the null hypothesis. There<br>V sufficient evidence to claim that the mean credit score of high-income individuals is<br>

Extracted text: Question Help 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 708.2. 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 30 high-income individuals and found the sample mean credit score to be 722.6 with a standard deviation of 81.4. 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. H1: (Type integers or decimals. Do not round.) Identify the t-statistic. to = (Round to two decimal places as needed.) Identify the P-value. P-value =(Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. V the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is

Jun 07, 2022
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