A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cred tworthiness of individuals. Valuos range from 300 to 850, wth a credit score over 700 considered to he a quality credit risk.According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income indiv iduals (incomes in excess of $100,000 per year) had higher credit scores. He aotained a random sample of 41 high incomeindividuals and found the sample mean credit score to bo 715.9 with a standard deviation of 81.9 Condu the appropriate test to determine if high-income individuals have higher credit scores at the a=0 05 level af significance.Stato the null and alternative hypotheses.Ho: 4(Type integers or decimais. Do not round.)Identify the t-statisticLo = (Round 10 two decimal places as needed.)Identity the P value.P-value = (Round to thrce decimal olaces as needed)Make a conclusion regarding the hypothesis.the null hypothesio. Theresufficient ev dence to caim thal the mean credit score of high-nenme individuels isNextStatcrunchO O A VI 10:35

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Answered: 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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A study analyzed the sustainability behaviors of CPA corporations. The level of support for corporate sustainability (measured on a quantitative scale ranging from 0 to 160 points) was obtained for each in a sample of 984 senior managers at CPA firms. The CEO of a CPA firm claims that the true mean level of support for sustainability is 66. Complete parts a through e. What is a Type II error in this problem? A. A Type II error would be to conclude that the true mean level of support for sustainability is 66 when, in fact, the mean is not equal to 66. B. A Type II error would be to conclude that the sample mean level of support for sustainability is less than 66 when, in fact, the sample mean is greater than 66. C. A Type II error would be to conclude that the true mean level of support for sustainability is not 66 when, in fact, the mean is equal to 66. D. A Type II error would be to conclude that the sample mean level of support for…
The concept “Job Involvement” is defined as the degree to which an employee is engaged in and enthusiastic about performing his/her work. In a study one section of the questionnaire was designed to measure “Job Involvement” of the employees. There were 6 items in this construct, each measured on a Likert scale of 1 to 5: JINV1. The major satisfaction in my life comes from my job JINV2. My job means a lot more to me than just money JINV3. I will stay overtime to finish a job, even if I am not paid for it JINV4. I look forward to coming to work each day JINV5. I would probably keep working even if I didn’t need the money JINV6. The most important things that happen to me involve my work The questionnaires were self-administered and 200 cases were used in the final analysis. The data were analysed using SPSS. The following are some of the output from factor analysis. 1) Interpret the values presented in the Table 9. 2) Interpret the values presented in Table 10 3) Write a brief…
A study of new home prices was conducted in a neighborhood of 2000 homes. The median price of a new home is reported to be $172,400 and the mean price is reported to be $196,000. describe the distribution of new home prices, explaining the relationship between the given median and mean. How many new homes cost more than $172,400?
Cris Turlock owns and manages a small business in San Francisco, California. The business provides breakfast and brunch food, via carts parked along sidewalks, to people in the business district of the city. Being an experienced businessperson, Cris provides incentives for the salespeople operating the food carts. This year, she plans to offer monetary bonuses to her salespeople based on their individual mean daily sales. Her first task is to see if there is a significant difference in the mean daily sales among the different salespeople. She chooses a "sample" of days for each salesperson and records the sales for each day. She then runs a one-way, independent-samples ANOVA test to determine whether or not she can conclude that at least one salesperson's performances is significantly different from the others. (Otherwise, she'll split the bonuses evenly among all the salespeople.) In her ANOVA, the "groups" are the different salespeople, and the variable of interest is the daily sales…
For the month of April a checking account has a balance of $564 for 23 days, &2466 for 3 days, and $236 for 4 days. What is the account's mean daily balance for April?
In a survey that asked individuals about their favorite styles of music, 37 replied rock, 27 said they preferred pop music, 14 stated they like classical music the most, and 3 individuals stated they preferred opera. Based on this data, what would be the mode? Why couldn’t the mean or median be used to describe this set of values?
The National Assessment of Educational Progress (NAEP) includes a mathematics test for eighth-grade students. Scores on the test range from 0 to 500. Demonstrating the ability to use the mean to solve a problem is an example of the skills and knowledge associated with performance at the Basic level. An example of the knowledge and skills associated with the Proficient level is being able to read and interpret a stem-and-leaf plot. In 2019, 147,400 eighth-graders were in the NAEP sample for the mathematics test. The mean mathematics score was x = 282. We want to estimate the mean score u in the population of all eighth-graders. Consider the NAEP sample as an 40. SRS from a Normal population with standard deviation o = O Macmillan Learning Information about the NAEP test can be found online at https://www.nationsreportcard.gov. If we take many samples, the sample mean varies from sample to sample according to a Normal distribution with mean equal to the unknown mean score u in the…
A shopper at a local supermarket has spent these amounts in his last eight trips to the store: $32.92, 14.14, 30.80, 28.34, 75.58, 36.33, 33.51, and 22.94. Which statement about deleting the amount spent of $75.58 is false? a. The median of this data set may be more representative of the mean. b. The value of the mean would be reduced by $5.89. c. The value of the mean would not change. d. The value of the mean would be greatly reduced.
Cris Turlock owns and manages a small business in San Francisco, California. The business provides breakfast and brunch food, via carts parked along sidewalks, to people in the business district of the city. Being an experienced businessperson, Cris provides incentives for the four salespeople operating the food carts. This year, she plans to offer monetary bonuses to her salespeople based on their individual mean daily sales. Below is a chart giving a summary of the information that Cris has to work with. (A "sample" is a collection of daily sales figures, in dollars, from this past year for a particular salesperson.) Groups Sample size Sample mean Sample variance Salesperson 1 143 204.8 2382.8 Salesperson 2 97 209.9 2501.3 Salesperson 3 53 218.3 2461.6 Salesperson 4 95 205.8 2373.9
d. Interpret the value of IQR in the above table.
The mean monthly food budget for 53 residents of the local apartment complex is $648 . What is the best point estimate for the mean monthly food budget for all residents of the local apartment complex?

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