A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of indiv

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A Credit Score Is Used By Credit Agencies Such As Mortgage Companies And Banks To Assess The Creditworthiness Of Indiv 1 (25.87 KiB) Viewed 23 times

A credit score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Values range from 300 to 850, with a credit score over 700 considered to be a quality credit risk. According to a survey, the mean credit score is 709.9. A credit analyst wondered whether high-income individuals (incomes in excess of $100,000 per year) had higher credit scores. He obtained a random sample of 35 high-income individuals and found the sample mean credit score to be 720.4 with a standard deviation of 83.1. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. State the null and alternative hypotheses. Ho: P H₂: H (Type integers or decimals. Do not round.) Identify the 1-statistic. " (Round to two decimal places as needed.) Identify the P-value. P-value =(Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. the null hypothesis. There ITD sufficient evidence to claim that the mean credit score of high-income individuals is Time Remaining: 01:40-44