Good credit: The Fair Issac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credt nisk. 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 70 people had a mean FICO score of 705 with a standard deviation of 83. Can theeconomist conclude that the mean FICO score is less than 720? Use the a = 0.05 level of significance and the P-value method with the T-84 Plus calculator.Part 1 of 4ie the appropriate null and alternate hypotheses.D=0This hypothesis test is a right-taledtest.left-tailedright-talledtwo-tailed

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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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 standerd deviation of 95, Can the economist conclude that the mean FICO score is greater than 720? Use the a=0.01 level of significance and the P-value method with the T1-B4 Plus calculator. Part 1 of 4 State the appropriate null and altemate hypotheses. H D-0 H: This hypothesis test is a (Choose one) test. left-tailed right-tailed two-tailed
The Economist collects data each year on the price of a Big Mac in various countries around the world. The price of a Big Mac for a sample of McDonalds restaurants in Europe in May 2009 resulted in the following Big Mac prices (after conversion to U.S. dollars):3.80 5.89 4.92 3.88 2.65 5.57 6.39 3.24The mean price of a Big Mac in the U.S. in May 2009 was $3.57. For purposes of this exercise, assume it is reasonable to regard the sample as representative of European McDonalds restaurants. Does the sample provide convincing evidence that the mean May 2009 price of a Big Mac in Europe is greater than the reported U.S. price? Test the relevant hypotheses using a = .05. Assume a normal distribution of the data. x = Ho: μ = Ha: Select an answer α= P-value = |: S= Based on the above we choose Question Help: Post to foru Submit Question (Put in the correct symbol and value) ✓ Select an answer Reject the null hypothesis Fail to reject the null hypothesis
A psychologist wanted to know if students in her class were more likely to cheat if they were low achievers. She divided her 60 students into three groups (low, middle, and high) based on their mean exam score on the previous three tests. She then asked them to rate how likely they were to cheat on an exam if the opportunity presented itself with a very limited chance for consequences. The students rated their desire to cheat on a scale ranging from 1-100, with lower numbers indicating less desire to cheat. Before opening the data, what would you hypothesize about this research question? Open the data set. Before running any statistical analyses, glance through the data. Do you think that your hypothesis will be supported? Conduct descriptive analyses and report them here. Conduct a one-way ANOVA. Report your statistical findings (including any applicable tables in APA format) here. What would you conclude from this analysis? What would be your next steps, if this…
If there are 13 data points in a set of data, what is the number of degrees of freedom?
The Economist collects data each year on the price of a Big Mac in various countries around the world. The price of a Big Mac for a sample of McDonalds restaurants in Europe in May 2009 resulted in the following Big Mac prices (after conversion to U.S. dollars): 3.80 5.89 4.92 3.88 2.65 5.57 6.39 3.24The mean price of a Big Mac in the U.S. in May 2009 was $3.57. For purposes of this exercise, assume it is reasonable to regard the sample as representative of European McDonalds restaurants. Does the sample provide convincing evidence that the mean May 2009 price of a Big Mac in Europe is greater than the reported U.S. price? Test the relevant hypotheses using a = .05. Assume a normal distribution of the data. x = S= Ho: μ = Ha: Select an answer (Put in the correct symbol and value) α= P-value: = Based on the above we choose t✓ Select an answer Question Help: Post to forur Reject the null hypothesis B
Secretary of State Roxana Tillerson is worried about malpractice at the 4 processing centers for Green Cards in the country. Green Card applications are given a grade g on a scale 0-100. They are assigned randomly to different centers and thus Tillerson expects all centers to have similar mean scores. She collects the data in the table. #applications 9360 67.27 15.29 1 9870 66.74 14.64 7020 66.94 15.14 3 5040 67.02 14.84 4 rows x 3 columns At this point she just wants to decide whether or not to initiate a deeper investigation into malpractice at all sites. Does she have sufficient evidence for this, at 6% significance? SSTT number (rtol=0.01, atol=0.0001) SSE number (rtol=0.01, atol=0.0001) F. number (rtol=0.01, atol=0.0001) P-val number (rtol=0.01, atol=0.0001) O (a) No, she cannot make a conclusion O (b) Yes, she has enough evidence Select the key assumptions in the test you used. O (a) The populations are independent and therefore their covariances are zero. O (b) All sample sizes…
A randomly sampled group of patients at a major U.S. regional hospital became part of a nutrition study on dietary habits. Part of the study consisted of a 50-question survey asking about types of foods consumed. Each question was scored on a scale from one (most unhealthy behavior) to five (most healthy behavior). The answers were summed and averaged. The population of interest is the patients at the regional hospital. A prior survey of patients had found the mean score for the population of patients to be μ=2.9 After careful review of these data, the hospital nutritionist decided that patients could benefit from nutrition education. The current survey was implemented after patients were subjected to this education, and it produced the following sample statistics for the 15 patients sampled: x¯=3.5 and s=1.2 We would like to know if the education improved nutrition behavior. We test the hypotheses H0:μ=2.9 versus Ha:μ>2.9. The tt test to be used has the test statistic: Answer:
A nationwide job recruiting firm wants to compare the annual incomes for childcare workers in Utah and Oregon. Due to recent trends in the childcare industry, the firm suspects that the mean annual income of childcare workers in Utah is less than the mean annual income of childcare workers in Oregon. To see if this is true, the firm selected a random sample of 20 childcare workers from Utah and an independent random sample of 20 childcare workers from Oregon and asked them to report their mean annual income. The data obtained were as follows. Annual income in dollars 27060 , 42320 , 36445 , 37895, 44564 , 35325 , 30313 , 28698, 33706 , 48365 , 26946 , 25063 , 28339 , 29265 , 40051 , 37026 , 40150 , 42753 , 27820, 39471 Utah 29769 , 48859 , 32480 , 36288,45102 , 46219 ,51098 , 45516 , 38834 , 44659 , 40755 , 38006 , 39947 , 29801 , 32200, 38731 , 41370 , 28059 , 33753 , 35271 Oregon Send data to calc... v Send data to Excel The population standard deviation for the annual incomes of…
For the month of April a checking account has a balance of $564 for 23 days, &2466 for 3 days, and $236 for 4 days. What is the account's mean daily balance for April?
An Internet retailer would like to investigate the relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of
In a city with three high schools, all the ninth graders took a Standardized Test, with these results: High School Mean score on test Number of ninth graders Glenwood 76 272 Central City 93 325 Lincoln High 73 180 The city's PR manager, who never took statistics, claimed the mean score of all ninth graders in the city was 80.7 . Of course, that is incorrect. What is the mean score for all ninth graders in the city? Round to one decimal place.mean of all ninth grader's scores =
In a study of computer use, 1000 randomly selected Canadian Internet users were asked how much time they spend using the Internet in a typical week. The mean of the sample observations was 12.6 hours.

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