A Fair Isaac Corporation (FICO) score is used by credit agencies such as banks to determine whether to lend money and th

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A Fair Isaac Corporation Fico Score Is Used By Credit Agencies Such As Banks To Determine Whether To Lend Money And Th 1 (57.88 KiB) Viewed 15 times

A Fair Isaac Corporation (FICO) score is used by credit agencies such as banks to determine whether to lend money and the interest rate to charge. Its value ranges from 300 to 850 and if you have a score over 700, you are considered to be a "quality" credit risk. The mean credit score of average income earners in California is estimated by Fair Isaac to be 683. A recent survey of 19 high income earners in California had a mean FICO score of c=665 and a standard deviation of s=38. Use a 0.005 significance level to test the claim that the mean FICO score of high income earners in California is less than 683, the mean score of average income earners in California. Claim: Select an answer which corresponds to Select an answer Opposite: Select an answer v which corresponds to Select an answer v The test is: Select an answer The test statistic is: (to 3 decimals) Identify the range of the p-value: Select an answer Based on this we: Select an answer Conclusion There Select an answer appear to be enough evidence to support the claim that the mean FICO score of high income earners in California is less than 683, the mean score of average income earners in California,