Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scoresrange from 300 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 FICOscore is more than the cutoff of 720. She finds that a random sample of 40 people had a mean FICO score of 760 with a standerd deviation of 95, Can theeconomist conclude that the mean FICO score is greater than 720? Use the a=0.01 level of significance and the P-value method with the T1-B4 Plus calculator.Part 1 of 4State the appropriate null and altemate hypotheses.HD-0H:This hypothesis test is a (Choose one)test.left-tailedright-tailedtwo-tailed

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Answered: State the appropriate null and altemate…

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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When is it valid to use a one-tailed test? What is the advantage of a one-tailed test? Give an example of a null hypothesis that would be tested by a one-tailed test?
An elementary school claims the mean score on the district reading test of its fourth grade students is higher than the district average. Determine whether the hypothesis for this claim is left-tailed, right-tailed, or two-tailed. left-tailed two-tailed right-tailed
A new app is being tested to see if it can increase the number of college students who meet with a math study group at least once a week. The current rate for the population is 0.27. Should the hypothesis test be a left-tailed test, a right-tailed test, or a two-tailed test? X Two-tailed Left-tailed Right-tailed None of the above
If your claim is in the alternative hypothesis and you fail to reject the null hypothesis, then your conclusion would be (pick an option): There is sufficient evidence to warrant rejection of the original claim The sample data support the original claim There is not sufficient evidence to warrant rejection of the original claim There is not sufficient sample evidence to support the original claim
None
If we perform a paired t test and retain the null hypothesis, then what does this mean if we made measurements on each subject before and after a particular treatment? Group of answer choices There is NO difference in outcomes before and after the treatment was given There is a difference in outcomes before and after the treatment was given
Data shows that 11% of fatal vehicle accidents involved large trucks. A statistician for an insurance company believes that is higher than 11%. The statistician randomly selected 200 fatal vehicle accidents and finds that 26 involve large trucks. Is the statistician correct? What is the test statistic for this hypothesis test? Data shows that 11% of fatal vehicle accidents involved large trucks. A statistician for an insurance company believes that is higher than 11%. The statistician randomly selected 200 fatal vehicle accidents and finds that 26 involve large trucks. Is the statistician correct? What is the test statistic for this hypothesis test? 0.9040 0.1830 0.3660 0.8170
A two-tailed test is one where: Select one: a. results in only one direction can lead to rejection of the null hypothesis b. negative sample means lead to rejection of the null hypothesis c. results in either of two directions can lead to rejection of the null hypothesis d. no results lead to the rejection of the null hypothesis
Explain the terms, Null Hypothesis and Alternative Hypothesis with examples
Why is the phrase “goodness of t” used to describe the type of hypothesis test considered in this section?
Which of the following statements are TRUE? I. Increasing the significance level of a test will increase the chance of erroneously rejecting a true null hypothesis. II. Increasing the significance level of a test will increase the chance of erroneously failing to reject a false null hypothesis. Only statement I is true. Neither statement is true. Only statement II is true. Both statements are true.
Type 1 Error is when you end up rejecting the null hypothesis as a result of the statistical testing, when in fact the null hypothesis is actually ________.

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State the appropriate null and altemate hypotheses. Ho This hypothesis test is a (Choose one) test. left-tailed right-tailed two-tailed