7. Financial businesses assign a standardized credit score to each individual who conducts financial transactions with one or more of them. The scores range from 300 to 850 where above 720 is a very good credit risk. An economist thinks the mean population credit score is below 720 She takes a simple random sample of
7. Financial businesses assign a standardized credit score to each individual who conducts financial transactions with one or more of them. The scores range from 300 to 850 where above 720 is a very good credit risk. An economist thinks the mean population credit score is below 720 She takes a simple random sample of
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:7. Financial businesses assign a standardized credit score to each individual who
conducts financial transactions with one or more of them. The scores range from
300 to 850 where above 720 is a very good credit risk. An economist thinks the
mean population credit score is below 720. She takes a simple random sample of
size 100 from the population and gets a mean score of 703 and sample standard
deviation of 92. At the a=.05 level of significance, can she conclude that the mean
credit score in the population is less than 720? Show all steps in your hypothesis
test.
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