Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals Values range from 300

 
student submitted image, transcription available below  

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 credt score over 700 considered to be a quality credit risk According to a survey, the mean credit score is 7098 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 44 high-income individuals and found the sample mean credit score to be 724.9 with a standard deviation of 84 4. Conduct the appropriate test to determine if high-income individuals have higher credit scores at th005 of significance

Step by Step Solution

3.39 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

To determine if highincome individuals incomes exceeding 100000 per year have higher credit scores w... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Statistics

Authors: Michael Sullivan III

4th Edition

978-032184460, 032183870X, 321844602, 9780321838704, 978-0321844606

More Books

Students also viewed these Banking questions

Question

List the properties of the normal density curve.

Answered: 1 week ago

Question

Find the value of z0.20.

Answered: 1 week ago