Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Acredlt score is used by credit agencies (such as mortgage companies and banks] to assess the creditworthiness of individuals. ILl'alues range from 300 to 850,

image text in transcribed
Acredlt score is used by credit agencies (such as mortgage companies and banks] to assess the creditworthiness of individuals. ILl'alues range from 300 to 850, ' with a credit score over ?00 considered to be a quality credit risk. According to a survey, the mean credit score is T0913. Acredit analyst wondered whether highincome individuals [incomes in excess of $100,000 per year} had higher credit scores. He obtained a random sample of 3? highincome individuals and found the sample mean credit score to be 729.? with a standard deviation oi 80.9. Conduct the appropriate test to determine if highincome individuals have higher credit scores at the or: 0.05 level of signicance. State the null and alternative hypotheses. HD:p Yr H1:p Yr (Type integers or decimals. Do not round.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Matrix Theory And Applications With MATLAB

Authors: Darald J Hartfiel

1st Edition

1482285630, 9781482285635

More Books

Students also viewed these Mathematics questions

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago