Sure, here is the transcription suitable for an educational website:---### Hypothesis Testing for Credit Scores**Problem Description:**A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 702.9. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 32 high-income individuals and found the sample mean credit score to be 719.1 with a standard deviation of 80.6. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the α = 0.05 level of significance.**Tasks:**1. **State the null and alternative hypotheses.** - $ H_0: \mu $ (1) _____________ - $ H_1: \mu $ (2) _____________2. **Identify the t-statistic.** - $ t_0 = $ ___________ (Round to two decimal places as needed.)3. **Identify the P-value.** - P-value = ____________ (Round to three decimal places as needed.)4. **Make a conclusion regarding the hypothesis.** - (3) _____________ the null hypothesis. There (4) _____________ sufficient evidence to claim that the mean credit score of high-income individuals is (5) _____________ _____________.---This presentation provides clear guidance on the steps required for hypothesis testing using the provided data.

Given : Claim : Thd mean credit score of high-income individuals is greater than 702.9.

Answered: 5. A credit score is used by credit…

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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3. A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 sub-scribers. Fifty- nine percent of the respondents indicated an annual income of $ 75,000 or more, and 50% reported having an American Express credit card. a. What is the population of interest in this study? b. Is annual income a categorical or quantitative variable? c. Is ownership of an American Express card a categorical or quantitative variable? d. Does this study involve cross- sectional or time series data? e. Describe any statistical inferences Bloomberg Businessweek might make on the basis of the survey. 4. Table 1.8 shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors. Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts. The data set is also on the website that accompanies the text in the file named Shadow02. a. How many variables are in the data set?…
10. Gasoline prices. The Table 7 shows the gasoline prices (in dollars) for a sample of service stations. The prices are classified by vendor. At a = 0.05, is there enough evidence to conclude that at least 1 population mean gasoline price is different from the others? Table 7. Gasoline Prices (Dollars) Stewarts Valero Sunoco 2.50 2.52 2.51 2.51 2.51 2.51 2.50 2.51 2.53 2.53 2.51 2.50 2.49 2.52 2.50 2.53 2.52
2) A researcher suspects that there is a relationship between substance use and sexual activity among single college students. What statistical analysis tests would you use for this?
1. What is the mean BMI of this population? 2. How do these adults’ BMI value stack up against the rest of the country? 3. Nationally, 47% of adults in the US have hypertension (see the CDC article for more details). Does this population have a significantly lower percentage of adults with hypertension? Use 0.01.
Income Tax and the IRS. In 2010, the Internal Revenue Service (IRS) sampled 308,946 tax returns to obtain estimates of various parameters. Data were published in Statistics of Income, Individual Income Tax Returns. According to that document, the mean income tax per return for the returns sampled was $11,266. a. Explain the meaning of sampling error in this context.b. If, in reality, the population mean income tax per return in 2010 was $11,354, how much sampling error was made in estimating that parameter by the sample mean of $11,266?c. If the IRS had sampled 400,000 returns instead of 308,946, would the sampling error necessarily have been smaller? Explain your answer.d. In future surveys, how can the IRS increase the likelihood of small sampling error?
4. A college student is contemplating a possible career option. One factor that will influence his decision is the amount of money he is likely to make. He decides to look up the average salary of graduates in that profession. Which information would be more useful to him, the mean salary or the median salary? Why?
2. Scores in the first and fourth (final) rounds for a sample of 20 golfers who competed in PGA tournaments are shown in the following table (Golfweek, February 14, 2009, and February 28, 2009). Suppose you would like to determine if the mean score for the first round of a PGA Tour event is significantly different than the mean score for the fourth and final round. Does the pressure of playing in the final round cause scores to go up? Or does the increased player concentration cause scores to come down? Player First Round Final Round Sleve McDichael 72 72 Onson Sweemey 68 68 Darryl Archideld 72 72 Anatoli Smorin 68 68 Rey McScriff 73 73 Glenallen Mixon 69 69 Mario McRlwain 74 74 Raul Chamgerlain 69 73 Mike Sernandez 70 73 Tony Smehrik 71 69 Player First Round Final Round Bobson Dugnutt 73 75…
The annual update of U.S. Overseas Loans and Grants, informally known as the "Greenbook," contains data on U.S. government monetary economic and military assistance loans. The following table shows military assistance loans, in thousands of dollars, to a sample of 10 countries, as reported by the U.S. Agency for International Development. 102, 69, 280, 180, 33, 89, 1643, 205, 177, 695 1. The sample mean is (Round to one decimal place) (Round to one 2. The sample standard deviation is decimal place) 3. The sample size is 4. The degree of freedom for the Studentized version of the sample mean is 5. The point estimate for the mean of ALL US Overseas Loans and Grants is 6. The t-value for a 95% confidence interval is t = 7. The Margin of error for a 95% confidence interval for this sample is Berkley .. ASUS VivoBook
A research poll included 1614randomly selected adults who were asked whether "global warming is a problem that requires immediate government action." Results showed that 972 of those surveyed indicated that immediate government action is required. A news reporter wants to determine whether these survey results constitute strong evidence that the majority (more than 50%) of people believe that immediate government action is required. Complete parts (a) through (c) below. a. What is the best estimate of the proportion of adults who believe that immediate government action is required? the best estimate is ?
Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and services. Higher ratings on the client satisfaction survey indicate better service, with 7 the maximum service rating. Independent samples of service ratings for two financial consultants are summarized here. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. Use a 0.05 and test to see whether the consultant with more experience has the higher population mean service rating. Consultant A Consultant B ₁16 ₂-10 X₁ -6.82 x₂ = 6.27 $₁0.69 5₂ -0.75 (a) State the null and alternative hypotheses. Ho ₁₂50 На H3 -127.0. 0 Ho Hi-H2=0 H₂H₂H₂O Ho M₁ M₂ O H₁:1₁-1₂-0 Ho² M₁-M₂0 H₂H₁₂50 Ho: M₁ M₂ 50 H₂H₂H₂O (b) Compute the value of the test statistic. (Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value= (d) What is your conclusion? O Reject Ho. There is sufficient evidence to…
In a Gallup poll of 1236 adult respondents, 6% said that bad luck follows breaking a mirror. That percentage has a margin of error of 1.5 percentage points. Why is it misleading to state that the percentage is 6% with a margin of error of 1.5%?
A car wash is assessing the average wait time for its customers. The median wait time is 4 minutes. Does a customer who waits for 5 minutes represent an abnormal wait time? The customer who waits 5 minutes an abnormal case, because 50% of customers wait more than minutes.

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