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
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
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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
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