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 creditrisk. According to a survey, the mean credit score is 703.7. 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 of32 high-income individuals and found the sample mean credit score to be 719.9 with a standard deviation of 82.6. Conduct the appropriate test to determine if high-income individuals have higher credit scores at thea= 0.05 level of significance.wwState the null and alternative hypotheses.Ho: P(Type integers or decimals. Do not round.)Identify the t-statistic.(Round to two decimal places as needed.)Identify the P-value.(Round to three decimal places as needed.)P-value =Make a conclusion regarding the hypothesis.the null hypothesis. Theresufficient evidence to claim that the mean credit score of high-income individuals is

There is always some contention about the values of a parameters. When parametric values are unknown…

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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Sleep apnea is a condition in which the sufferers stop breathing momentarily while they are asleep. This condition results in lack of sleep and extreme fatigue during waking hours. A current estimate is that 10.9 million out of the 312.7 million Americans suffer from sleep apnea, or approximately 3.5 % . A safety commission is concerned about the percentage of commercial truck drivers who suffer from sleep apnea. They do not have any reason to believe that it would be higher or lower than the population's percentage. To test the claim that the percentage of commercial truck drivers who suffer from sleep apnea is not 3.5 % , a simple random sample of 308 commercial truck drivers is examined by a medical expert, who concludes that 19 suffer from sleep apnea. Does this evidence support the claim that the percentage of commercial truck drivers who suffer from sleep apnea is not 3.5 % ? Use a 0.05 level of significance. Step 1 of 3: State the null and alternative hypotheses for the test.…
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Hurricane Andrew swept through southern Florida causing billions of dollars of damage. Because of the severity of the storm and the type of residential construction used in this semitropical area, there was some concern that the average claim size would be greater than the historical average hurricane claim of $26,000. Several insurance companies collaborated in a data gathering experiment. They randomly selected 24 homes and sent adjusters to settle the claims. In the sample of 24 homes, the average claim was $28,500 with a population standard deviation of $5200. Is there sufficient evidence at a 0.02 significance level to support the claim that the home damage is greater than the historical average? Assume the population of insurance claims is approximately normally distributed. Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below. Ho 26,000 Hoμ Ha H = 26,000
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