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 asurvey, the mean credit score is 702.5. 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 39 high-income individuals and found thesample mean credit score to be 714.6 with a standard deviation of 84.3. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a=0.05 level of significance.State the null and alternative hypotheses.Ho:H = 7025H, > 702 5(Type integers or decimals. Do not round.)Identify the t-statistic.to = (Round to two decimal places as needed.)

Given Mean=702.5 Standard deviation=84 3 n=39

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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