The FICO credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 859 with a score of 720 or more indicating a very good credit score. An economist wants to determine whether the mean FICO score is lower than the cutoff of 720. She finds that a random sample of 100 people had a mean FICO score of 703. If the population standard deviation is 92, can the economist conclude that the mean FICO score is less than 720? Let a = 0.05

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Select the correct decision below
none of these
Reject Ha
Fail to reject Ha
Fail to reject Ho
Reject Ho
C
18
f
L
V
%
5
t
6.0
b
6
Oll
y
h
&
7
n
С
j
* 00
8
¡
E
9
k
O
alt
P
V
:
Transcribed Image Text:Select the correct decision below none of these Reject Ha Fail to reject Ha Fail to reject Ho Reject Ho C 18 f L V % 5 t 6.0 b 6 Oll y h & 7 n С j * 00 8 ¡ E 9 k O alt P V :
esc
The FICO credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores
range from 300 to 859 with a score of 720 or more indicating a very good credit score. An economist wants to
determine whether the mean FICO score is lower than the cutoff of 720. She finds that a random sample of 100 people
had a mean FICO score of 703. If the population standard deviation is 92, can the economist conclude that the mean
FICO score is less than 720? Let a = 0.05
I
alt
089AE
3
9
a
N
2
W
↑
S
X
e
C
d
C
$
4
f
%
5
t
6.0
וום
6
JARAG
8
b
y
h
&
7
n
u
0
j
k
9
O
alt
Р
ctrl
{
[
?
1
backspace
< >
ег
Transcribed Image Text:esc The FICO credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 859 with a score of 720 or more indicating a very good credit score. An economist wants to determine whether the mean FICO score is lower than the cutoff of 720. She finds that a random sample of 100 people had a mean FICO score of 703. If the population standard deviation is 92, can the economist conclude that the mean FICO score is less than 720? Let a = 0.05 I alt 089AE 3 9 a N 2 W ↑ S X e C d C $ 4 f % 5 t 6.0 וום 6 JARAG 8 b y h & 7 n u 0 j k 9 O alt Р ctrl { [ ? 1 backspace < > ег
Expert Solution
steps

Step by step

Solved in 3 steps with 10 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman