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 tobe a quality credit risk. According to a survey, the mean credit score is 709.3. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher creditscores. He obtained a random sample of 31 high-income individuals and found the sample mean credit score to be 722 3 with a standard deviation of 81.1. Conduct the appropriate test to determineif high-income individuals have higher credit scores at the α=0.05 level of significance.State the null and alternative hypotheses.но-м 709.3H₁ μ709 3(Type integers or decimals. Do not round.)Identify the t-statistic.=NEMOto = 89 (Round to two decimal places as needed.)Identify the P-value.P-value= (Round to three decimal places as needed.)

Population mean, Sample size, Sample mean, Sample standard deviation, s = 81.1

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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