A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworth iness of indviduals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit nsk. According to a survey, the mean credit score is 703.7. A credit analyst wondered whether high-income ind viduals (incomes in excess of S100,000 per year) had higher credt scores. He obtained a random sample of 41 high-income individuals and found the sample mean credit score to be 716.9 with a standard deviation of 81 9 Cond.c: the aporopriale test to determine if highincome individuals have higher credit scores at the a=0.05 level af signficance State the null and alternative hypotheses H: ul (Type integers or decimals. Do not round) Identity the t-statistic to = Round to two decimal paces as needed) Identify the P-value P-value =(Round to three decimal places as needed) Make a conclusion regarding the hypothesis v the nuli hypothesis. There sufficient evidence to cla that the mean credi zcore nf hiar-income individua's is

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A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthincss of indivi duals. 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 703.7. A credit analyst wordered whether high-income ind viduals (incomes in excess of $100,000 per year) had higher cred't scores. He obtained a random sample of 41 high-income
individuals and found the sample mean credit score to be 716.9 with a standard deviation of 81.9. Conduct the ap:oropriate 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.
H:
H1: u
(Type integers or decimals. Do not round
Identify the t-stalistic.
to = (Round to two decimal piaces as needed)
Identify the P-value.
P-value =(Round to three decimal places as needed.)
Make a conclusion regarding the hypothesis
v the nuli hypothesis. There
v sufficient evidence to claim that the mean credit score nf high-income individua's is
Statcrunch
Next
V1 9:56
Transcribed Image Text:A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthincss of indivi duals. 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 703.7. A credit analyst wordered whether high-income ind viduals (incomes in excess of $100,000 per year) had higher cred't scores. He obtained a random sample of 41 high-income individuals and found the sample mean credit score to be 716.9 with a standard deviation of 81.9. Conduct the ap:oropriate 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. H: H1: u (Type integers or decimals. Do not round Identify the t-stalistic. to = (Round to two decimal piaces as needed) Identify the P-value. P-value =(Round to three decimal places as needed.) Make a conclusion regarding the hypothesis v the nuli hypothesis. There v sufficient evidence to claim that the mean credit score nf high-income individua's is Statcrunch Next V1 9:56
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