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. Scoresrange 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 FICOscore is lower than the cutoff of 720. She finds that a random sample of 55 people had a mean FICO score of 685 with a standard deviation of 80. Can theeconomist conclude that the mean FICO score is less than 720? Use the a=0.10 level of significance and the P-value method with the TI-84 Plus calculator.Part: 0/ 4Part 1 of 4State the appropriate null and alternate hypotheses.Ho:H:This hypothesis test is a (Choose one) vtest.Part 2 of 4Compute the P-value. Round the answer to at least four decimal places.P-value = Part 3 of 4Determine whether to reject Ho.(Choose one) ▼v the null hypothesis Ho.のPart: 3/ 4Part 4 of 4State a conclusion.There (Choose one) v enough evidence to conclude that the mean FICO score is lower than the cutoff of 720.

Given that Hypothesized Population Mean (\mu)(μ) = 720720 Sample Standard Deviation (s)(s) =…

Answered: Good credit: The Fair Isaac Corporation…

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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Head Start is an enrichment program for young children. The program’s administrators would like to know if this program is successful in increasing the intelligence (IQ) of its participants. They know that the IQs of children who enter the program have a mean of 88 and a standard deviation of 15 points. A sample of eighty students has an average IQ of 88.8. Has the program increased the students’ IQs?
Russell is doing some research before buying his first house. He is looking at two different areas of the city, and he wants to know if there is a significant difference between the mean prices of homes in the two areas. For the 39 homes he samples in the first area, the mean home price is $⁢176,400. Public records indicate that home prices in the first area have a population standard deviation of $⁢32,930. For the 32 homes he samples in the second area, the mean home price is $⁢181,500. Again, public records show that home prices in the second area have a population standard deviation of $⁢23,835. Let Population 1 be homes in the first area and Population 2 be homes in the second area. Construct a 95% confidence interval for the true difference between the mean home prices in the two areas. Round the endpoints of the interval to the nearest whole number, if necessary. Lowest Endpoint = upper Endpoint=
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 120 people had a mean FICO score of 740 with a standard deviation of 90 . Can the economist conclude that the mean FICO score is greater than 720 ? Use the =α0.01 level of significance and the P -value method with the
A director of research for a radio company conducted a survey of listener preferences and collected information on demographics as well as preferred music. When reviewing the results, he discarded all responses in which a non-Hispanic listener chose Spanish-language music as the favorite genre. Is this an acceptable practice in statistics? Why or why not? Please use terminology associated with statistical practices to explain your answer.
The college board reports that in a recent year, the mean mathematics SAT score was 514, and the standard deviation was 118. A sample of 65 scores is chosen. Find the 98th percentile of the sample mean.
A successful basketball player has a height of 6 feet 11 inches, or 211 cm. Based on statistics from a data set, his height converts to the z score of 5.17. How many standard deviations is his height above the mean?
A successful basketball player has a height of 6 feet 3 inches, or 191 cm. Based on statistics from a data set, his height converts to the z score of 2.31. How many standard deviations is his height above the mean?
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 40 people had a mean FICO score of 760 with a standard deviation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the a = 0.05 level of significance and the P-value State the appropriate null and alternate hypotheses. Compute the value of the test statistic. Round the answer to at least three decimal places. Input the correct interval for the P-value. Determine whether to reject H0 State a conclusion.
The Graduate Record Examinations are widely used to help predict the performance of applicants to graduate schools. The range of possible scores on a GRE is 200 to 900. The psychology department finds that the scores of its applicants on the quantitative GRE are approximately normal with mean 544 and standard deviation 103. What score would a student need in order to score in the 90th percentile (90% or less) of those taking the test?
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 85 people had a mean FICO score of 750 with a standard deviation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the α = 0.05 level of significance and the P-value method and Excel. (a) State the appropriate null and alternate hypotheses. Ho: H₁: This hypothesis test is a (Choose one) test. left tailed right-tailed two tailed
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 40 people had a mean FICO score of 760 with a standard deviation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the α= 0.01 level of significance and the P-value method and Excel. a)Compute the value of the test statistic. Round the answer to at least three decimal places. t= ? b) what is the P-value? c) Does it Rejects/Accepts the null hypothesis H_0? d) There is/ is not enough evidence to conclude that the mean FICO score is lower than the cutoff of 720.

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