Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

... Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit

...

image text in transcribed
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 60 people had a mean FICO score of 695 with a standard deviation of 65. Can the economist conclude that the mean FICO score is less than 720? Use the (1:0.05 level of signicance and the P-value method with the TI-84 Plus calculator. Part: 0/4 nn1w4 State the appropriate null and alternate hypotheses. H : 0 DD D=D This hypothesis test is a (Choose one) V test. left-tailed right-tailed two-tailed

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

Partial Differential Equations For Scientists And Engineers

Authors: Stanley J Farlow

1st Edition

0486134733, 9780486134734

More Books

Students also viewed these Mathematics questions

Question

Discuss the roles of metacognition in learning and remembering.

Answered: 1 week ago

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago