A Fair Isaac Corporation (FICO) score is used by credit agencies such as banks to determine whether to lend money and the interest rate to charge. Its value ranges from 300 to 850 and if you have a score over 700, you are considered to be a "quality" credit risk. The mean credit score of average income earners in California is estimated by Fair Isaac to be 658. A recent survey of 32 high income earners in California had a mean FICO score of x=669 and a standard deviation of s=55. Use a 0.01 significance level to test the claim that the mean FICO score of high income earners in California is equal to 658, the mean score of average income earners in California. Claim: Select an answer p 658 u > 658 p = 658 u < 658 u 658 u 658 p < 658 u 658 p 658 p 658 p > 658 u = 658 which corresponds to Select an answer H0: u 658 H0: p 658 H0: u = 658 H1: u 658 H1: u < 658 H0: u 658 H1: u > 658 Opposite: Select an answer u 658 p > 658 p = 658 u > 658 p < 658 u = 658 p 658 p 658 p 658 u < 658 u 658 u 658 which corresponds to Select an answer H0: u 658 H1: u 658 H0: u 658 H0: p 658 H0: u = 658 H1: u < 658 H1: u > 658 The test is: Select an answer left-tailed right-tailed two-tailed The test statistic is: Select an answer 1.25 1.46 1.13 1.55 1.33 Identify the range of the p-value: Select an answer P-value < 0.01 0.01 < P-value < 0.02 0.02 < P-value < 0.05 0.05 < P-value < 0.1 0.1 < P-value < 0.2 0.2 < P-value Based on this we: Select an answer Reject the null hypothesis Fail to reject the null hypothesis Conclusion There Select an answer does not does appear to be enough evidence to support the claim that the mean FICO score of high income earners in California is equal to 658, the mean score of average income earners in California.