Simple random samples of high-interest mortgages and low-interest mortgages were obtained. For the 17 high-interest mortgages, the borrowers had a mean FICO score of 695 and a standard deviation of 20. For the 17 low-interest mortgages, he borrowers had a mean FICO credit score of 713 and a standard deviaiton of 35. Test the claim that the mean FICO score of borrowers with high-interest mortgages is lower than the mean FICO score of borrowers with low-interest mortgages at the .005 significance level. Claim: Select an answer p 1≠p 2 p 1 = p 2 μ 1 ≥ μ 2 μ 1 < μ 2 μ 1 > μ 2 μ 1≠μ 2 p 1 > p 2 μ 1 = μ 2 μ 1 ≤ μ 2 p 1 ≥ p 2 p 1 ≤ p 2 p 1 < p 2 which corresponds to Select an answer H0: μ 1 ≤ μ 2 H0: μ 1 = μ 2 H1: μ 1 > μ 2 H1: μ 1≠μ 2 H0: p 1 ≤ p 2 H1: p 1≠p 2 H0: μ 1≠μ 2 H1: p 1 < p 2 H1: p 1 > p 2 H1: μ 1 < μ 2 Opposite: Select an answer p 1 = p 2 p 1 ≤ p 2 p 1 < p 2 p 1 > p 2 μ 1 ≥ μ 2 p 1 ≥ p 2 μ 1 = μ 2 μ 1≠μ 2 p 1≠p 2 μ 1 ≤ μ 2 μ 1 < μ 2 μ 1 > μ 2 which corresponds to Select an answer H1: μ 1≠μ 2 H0: μ 1≠μ 2 H1: p 1 = p 2 H0: p 1 > p 2 H1: μ 1 < μ 2 H1: μ 1 > μ 2 H1: p 1 <= p 2 H0: p 1≠p 2 H1: p 1 ≥ p 2 H0: μ 1 ≤ μ 2 H0: μ 1 = μ 2 The test is: Select an answer left-tailed right-tailed two-tailed The test statistic is: t = (to 2 decimals) The critical value is: (to 3 decimals) Based on this we: Select an answer Reject the null hypothesis Cannot determine anything Accept the null hypothesis Fail to reject the null hypothesis Conclusion There Select an answer does / does not appear to be enough evidence to support the claim that the mean FICO score of borrowers with high-interest mortgages is lower than the mean FICO score of borrowers with low-interest mortgages.
22
Simple random samples of high-interest mortgages and low-interest mortgages were obtained. For the 17 high-interest mortgages, the borrowers had a
Claim: Select an answer
p 1≠p 2
p 1 = p 2
μ 1 ≥ μ 2
μ 1 < μ 2
μ 1 > μ 2
μ 1≠μ 2
p 1 > p 2
μ 1 = μ 2
μ 1 ≤ μ 2
p 1 ≥ p 2
p 1 ≤ p 2
p 1 < p 2
which corresponds to Select an answer
H0: μ 1 ≤ μ 2
H0: μ 1 = μ 2
H1: μ 1 > μ 2
H1: μ 1≠μ 2
H0: p 1 ≤ p 2
H1: p 1≠p 2
H0: μ 1≠μ 2
H1: p 1 < p 2
H1: p 1 > p 2
H1: μ 1 < μ 2
Opposite: Select an answer
p 1 = p 2
p 1 ≤ p 2
p 1 < p 2
p 1 > p 2
μ 1 ≥ μ 2
p 1 ≥ p 2
μ 1 = μ 2
μ 1≠μ 2
p 1≠p 2
μ 1 ≤ μ 2
μ 1 < μ 2
μ 1 > μ 2
which corresponds to Select an answer
H1: μ 1≠μ 2
H0: μ 1≠μ 2
H1: p 1 = p 2
H0: p 1 > p 2
H1: μ 1 < μ 2
H1: μ 1 > μ 2
H1: p 1 <= p 2
H0: p 1≠p 2
H1: p 1 ≥ p 2
H0: μ 1 ≤ μ 2
H0: μ 1 = μ 2
The test is: Select an answer
left-tailed
right-tailed
two-tailed
The test statistic is: t = (to 2 decimals)
The critical value is: (to 3 decimals)
Based on this we: Select an answer
Reject the null hypothesis
Cannot determine anything
Accept the null hypothesis
Fail to reject the null hypothesis
Conclusion There Select an answer does / does not appear to be enough evidence to support the claim that the mean FICO score of borrowers with high-interest mortgages is lower than the mean FICO score of borrowers with low-interest mortgages.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
