In 2017, the average credit score for loans that were purchased by a government-sponsored mortgage loan company was 747. A random sample of 35 mortgages recently purchased by the company was selected, and it was found that the average credit score was 756 with a sample standard deviation of 20. Complete parts a through c a. Using a = 0.05, is there enough evidence from this sample to conclude that the average credit score for mortgages purchased by the company has increased since 2017? Determine the null and alternative hypotheses. Hos 747 H₁> 747 (Type integers or decimals. Do not round.) Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice. (Round to three decimal places as needed.) A. 1.691 OB- OC./2 Calculate the appropriate test statistic. ₂2.66 (Round to two decimal places as needed.) State the conclusion. Reject Ho. There is sufficient evidence to conclude that the average credit score for mortgages purchased by company has increased since 2017. b. Determine the precise p-value for this test using Excel. The p-value is 0.006 (Round to three decimal places as needed.) c. What assumptions would need to be made to perform this analysis if the sample size were 20? Select all that apply. A. No assumptions are necessary. B. The sample is large. C. The population is normally distributed D. The population standard deviation is small. E. The sample mean is large.
In 2017, the average credit score for loans that were purchased by a government-sponsored mortgage loan company was 747. A random sample of 35 mortgages recently purchased by the company was selected, and it was found that the average credit score was 756 with a sample standard deviation of 20. Complete parts a through c a. Using a = 0.05, is there enough evidence from this sample to conclude that the average credit score for mortgages purchased by the company has increased since 2017? Determine the null and alternative hypotheses. Hos 747 H₁> 747 (Type integers or decimals. Do not round.) Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice. (Round to three decimal places as needed.) A. 1.691 OB- OC./2 Calculate the appropriate test statistic. ₂2.66 (Round to two decimal places as needed.) State the conclusion. Reject Ho. There is sufficient evidence to conclude that the average credit score for mortgages purchased by company has increased since 2017. b. Determine the precise p-value for this test using Excel. The p-value is 0.006 (Round to three decimal places as needed.) c. What assumptions would need to be made to perform this analysis if the sample size were 20? Select all that apply. A. No assumptions are necessary. B. The sample is large. C. The population is normally distributed D. The population standard deviation is small. E. The sample mean is large.
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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Transcribed Image Text:In 2017, the average credit score for loans that were purchased by a government-sponsored mortgage loan company was 747. A random sample of 35 mortgages recently purchased by the company was selected, and it was found that the average credit score was 756 with a sample standard deviation of 20. Complete parts
a through c.
C
a. Using a = 0.05, is there enough evidence from this sample to conclude that the average credit score for mortgages purchased by the company has increased since 2017?
Determine the null and alternative hypotheses.
Ho: ≤ 747
H₁: > 747
(Type integers or decimals. Do not round.)
Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice.
(Round to three decimal places as needed.)
ta = 1.691
OB. -ta-
OC. ta/2=
Calculate the appropriate test statistic.
t-= 2.66
(Round to two decimal places as needed.)
State the conclusion.
Reject Ho. There is sufficient evidence to conclude that the average credit score for mortgages purchased by the company has
increased
since 2017.
b. Determine the precise p-value for this test using Excel.
The p-value is 0.006
(Round to three decimal places as needed.)
c. What assumptions would need to be made to perform this analysis if the sample size were 20? Select all that apply.
A. No assumptions are necessary.
B. The sample is large.
C. The population is normally distributed.
D. The population standard deviation is small.
E. The sample mean is large.
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