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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.
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 FIC score is more than the cutoff of 720. She nds that a random sample of 40 people had a mean FICO score of 760 with a standard de vlation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the a 2 0.0] level of significance and the P-value method with the TI84 Plus calculatOl (a) State the appropriate null and alternate hypotheses. H0: p>720 7
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