11)The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determinewhether someone is a good credit risk. Scores range from 300 to 850, with a score of 720or more indicating that a person is a very good credit risk. An economist wants to determinewhether the mean FICO score is lower than the cutoff of 720. She finds that a random sample of50 people had a mean FICO score of 707 with a standard deviation of 79. Can the economistconclude that the mean FICO score is less than 720? Use the 0.01level of significance and the P-value method.(a) State the appropriate null and alternate hypotheses.(b) Compute the value of the test statistic.(c) State a conclusion.

Answered: Image /qna-images/answer/6523b07b-d90e-40dd-b971-958f8ac83780.jpg

Answered: 11) The Fair Isaac Corporation (FICO)…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The honors program at Brad's university only accepts students with an entrance exam score over 400. What percentage of students would be eligible if the students at Brad's school have an average exam score of 250, with a standard deviation of 80?
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