Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders...

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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 more than the cutoff of 720. She finds that a random sample of 120 people had a mean FICO score of 740 with a standard deviation of 90. Can the economist conclude that the mean FICO score is greater than 720? Use the a=0.05 level of significance and the P-value method with the TI-84 Plus calculator. Part 1 of 4 State the appropriate null and alternate hypotheses. Ho=720 H: >720 This hypothesis test is a right-tailed test. Part 2 of 4 Compute the P-value. Round the answer to at least four decimal places. P-value = 0.0075 Part 3 of 4 Determine whether to reject Ho. Reject the null hypothesis Ho Part: 3/4 Part 4 of 4 State a conclusion. that the mean FICO score is more than the cutoff of 720 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 more than the cutoff of 720. She finds that a random sample of 120 people had a mean FICO score of 740 with a standard deviation of 90. Can the economist conclude that the mean FICO score is greater than 720? Use the a=0.05 level of significance and the P-value method with the TI-84 Plus calculator. Part 1 of 4 State the appropriate null and alternate hypotheses. Ho=720 H: >720 This hypothesis test is a right-tailed test. Part 2 of 4 Compute the P-value. Round the answer to at least four decimal places. P-value = 0.0075 Part 3 of 4 Determine whether to reject Ho. Reject the null hypothesis Ho Part: 3/4 Part 4 of 4 State a conclusion. that the mean FICO score is more than the cutoff of 720