good credit: the fair isaac corporation (fico) credit score is used by banks and other lenders to determine whether someone is a 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 of 90 people had a mean fico score of 730 with a standard deviation of 91. can the economist conclude that the mean fico score is greater than 720? use the a=0.05 level of significance and the critical value method.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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good credit: the fair isaac corporation (fico) credit score is used by banks and other lenders to determine whether someone is a 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 of 90 people had a mean fico score of 730 with a standard deviation of 91. can the economist conclude that the mean fico score is greater than 720? use the a=0.05 level of significance and the critical value method.

 

 

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