Answered: A credit score is used by credit…

Name: A credit score is used by credit agencies (such as mortgage companies
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
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 surv

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Topic Video

Question

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 702.1. 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 36 high-income individuals and found the sample mean credit score to be 721.1 with a standard deviation of 81.5. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the α=0.05 level of significance.

State the null and alternative hypotheses.

H0:

▼

greater than>

equals=

not equals≠

less than<

nothing

H1:

▼

equals=

greater than>

not equals≠

less than<

nothing

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Hypothesis Tests and Confidence Intervals for Means$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions