(b) Compute the value of the test statistic. Round the answer to at least three decimal places. Good creait: Tne rair isaac Corporation (FICO) creait score is used py oanks ana orner ienaers to aetermine wnetner someone isa good credit risk. Scores range from 300 to 850, with a score of 720 or more indicating that a person is a very good credit risk.An economist wants to determine whether the mean FICO score is more than the cutoff of 720. She finds that a random sample of50 people had a mean FICO score of 765 with a standard deviation of 98. Can the economist conclude that the mean FICO scoreis greater than 720? Use the a =0.01 level of significance and the critical value method.Part 1 of 5(a) State the appropriate null and alternate hypotheses.Η : μ-720H,: p > 720This hypothesis test is a right-tailedtest.Part: 1/5Part 2 of 5Find the critical value(s). Round the answer(s) to at least three decimal places. If there is more than one critical value,separate them with commas.O 国G@

Name: (b) Compute the value of the test statistic. Round the answer to at l
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Description: (b) Compute the value of the test statistic. Round the answer to at least three decimal places. Good creait: Tne rair isaac Corporation (FICO) creait score is used py oanks ana orner ienaers to aetermine wnetner someone isa good credit risk. Scores

Given Information: Hypothesized value of population mean μ0=720 Sample size n=50 Sample mean x¯=765…

Answered: (b) Compute the value of the test…

Math

Statistics

(b) Compute the value of the test statistic. Round the answer to at least three decimal places.

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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