College tuition: The mean annual tuition and fees for a sample of 14 private colleges in California was $33,500 with a standard deviation of $7350. A dotplot shows that it is reasonable to assume that the population is approximately normal. Can you conclude that the mean tuition and fees for private institutions in California is less than $35,000? Use the (1 : 0.10 level of significance and the Pvalue method with the TI84 Plus calculator. (b) Compute the value of the test statistic. Round the answer to two decimal places. [:3 Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether 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 lower than the cutoff of 720. She finds that a random sample of 100 people had a mean FICO score of 710 with a standard deviation of 94. Can the economist conclude that the mean FICO score is less than 720? Use the 01 : 0.05 levei of significance and the Pvalue method with the TI84 Plus calculator. Part 2 of 5 (b) Compute the value of the test statistic. Round the answer to two decimal places. t X