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Question Help A credit score is used by credit agencies(such as mortgage companies andbanks) to assess the creditworthiness of individuals. Values range from 300 to850,
Question Help
A credit score is used by credit agencies(such as mortgage companies andbanks) to assess the creditworthiness of individuals. Values range from 300 to850, with a credit score over 700 considered to be a quality credit risk. According to asurvey, the mean credit score is 708.5. A credit analyst wondered whetherhigh-income individuals(incomes in excess of$100,000 peryear) had higher credit scores. He obtained a random sample of 40 high-income individuals and found the sample mean credit score to be 722.2 with a standard deviation of 83.9. Conduct the appropriate test to determine ifhigh-income individuals have higher credit scores at the =0.05 level of significance.
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