The Fair Isaac Cooperation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 330 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 lower than the cutoff of 720. She finds that a random sample of 60 people had a mean FICO score of 685 with a standard deviation of 80. Can the economist conclude that the mean FICO score is less than 720? Use the a=0.10 level of significance and the P-value method

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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The Fair Isaac Cooperation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 330 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 lower than the cutoff of 720. She finds that a random sample of 60 people had a mean FICO score of 685 with a standard deviation of 80. Can the economist conclude that the mean FICO score is less than 720? Use the a=0.10 level of significance and the P-value method

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