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 705.8 . 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 40 high-income individuals and found the sample mean credit score to be 725.8 with a standard deviation of 83.8 . Conduct the appropriate test to determine if high-income individuals have higher credit scores at the alpha equals0.05 level of significance. Question content area bottom Part 1 State the null and alternative hypotheses. Upper H 0 : mu ▼ equals not equals less than greater than enter your response here Upper H 1 : mu ▼ less than not equals equals greater than enter your response here (Type integers or decimals. Do not round.) Part 2 Identify the t-statistic. t 0 equalsenter your response here (Round to two decimal places as needed.) Part 3 Identify the P-value. P-valueequals enter your response here (Round to three decimal places as needed.) Part 4 Make a conclusion regarding the hypothesis. ▼ Reject Fail to reject the null hypothesis. There ▼ is is not sufficient evidence to claim that the mean credit score of high-income individuals is ▼ equal to greater than less than enter your response here

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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Question content area bottom

Part 1

State the null and alternative hypotheses.

Upper H 0

▼

equals

not equals

less than

greater than

enter your response here

Upper H 1

▼

less than

not equals

equals

greater than

enter your response here

(Type integers or decimals. Do not round.)

Part 2

Identify the t-statistic.

t 0

equalsenter your response here

(Round to two decimal places as needed.)

Part 3

Identify the P-value.

P-valueequals

enter your response here

(Round to three decimal places as needed.)

Part 4

Make a conclusion regarding the hypothesis.

▼

Reject

Fail to reject

the null hypothesis. There

▼

is not

sufficient evidence to claim that the mean credit score of high-income individuals is

▼

equal to

greater than

less than

enter your response here

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 705.8. 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 40 high-income individuals and found the sample mean credit score to be 725.8 with a standard deviation of 83.8. 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
(Type integers or decimals. Do not round.)
Identify the t-statistic.
to = (Round to two decimal places as needed.)
%D
Identify the P-value.
P-value = (Round to three decimal places as needed.)
Make a conclusion regarding the hypothesis.
the null hypothesis. There
sufficient evidence to claim that the mean credit score of high-income individuals is

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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