Answered: A simple random sample of credit rating…

Name: Test the following claim. Identify the null hypothesis, alternative
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Description: Test the following claim. Identify the null hypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim. A simple random sample of credit rating scores

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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Test the following claim. Identify the null hypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim.

A simple random sample of credit rating scores is obtained, and the scores are listed below. The mean credit score was reported to be

675.

Assuming the population is normally distributed and the standard deviation of all credit scores is known to be

57.7,

use a 0.05 significance level to test the claim that these sample credit scores come from a population with a mean equal to

675.

715

750

663

788

817

779

699

837

750

834

693

800

a) What are the null and alternative hypotheses?

b) What is the P-value?

c) Does this reject or fail to reject H0?

d) Is there sufficient evidence to warrant rejection of the claim that these sample credit scores are from a population with a mean credit score equal to 675?

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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