PROBLEM 1 The Fair lsaac Corporation (FICOJ 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 inditating 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 nds that a random sample ot'lOl people had a mean FlCO score of 7'03 with a standard deviation of 92. Can the economist conclude that the mean FICO score is less than 7'20? Use the a=0.05 level of significance. State the hypotheses to be tested