Good credit: The Fair Isaac Corporation (FICO) credit score used by banks and other lenders to determine whether someone is a good credit risk. Scoresrange 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 FICOscore is lower than the cutoff of 720, She finds that a random sample of 100 people had a mean FICO score of 703 with a standard deviation of 92, Can theeconomist conclude that the mean FICO score is less than 720, Use the a= 0.01 level of significance and the critical value method.Part 1 of 5(a) State the appropriate null and alternate hypotheses.Ho:?= 720H?: ?