MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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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. Scores
range 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 FICO
score 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 the
economist 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 4
State the appropriate null and altemate hypotheses.
H
D-0
H:
This hypothesis test is a (Choose one)
test.
left-tailed
right-tailed
two-tailed
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Transcribed Image Text: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. Scores range 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 FICO score 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 the economist 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 4 State the appropriate null and altemate hypotheses. H D-0 H: This hypothesis test is a (Choose one) test. left-tailed right-tailed two-tailed
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