Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. good credit: the fair isaac corporation (fico) cre

Good credit: The Fair Isaac Corporation (FICO) credit score used by banks and other lenders...

80.2K

Verified Solution

Question

Basic Math

image

Good credit: The Fair Isaac Corporation (FICO) credit score 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 lower than the cutoff of 720, She finds that a random sample of 100 people had a mean FICO score of 703 with a standard deviation of 92, Can theeconomist conclude that the mean FICO score is less than 720, Use the a= 0.01 level of significance and the critical value method.Part 1 of 5(a) State the appropriate null and alternate hypotheses.Ho:?= 720H?: ?< 720This hypothesis test is a left-tailed Y testPart 2 of 5Find the critical value(s). Round the answer(s) to at least three decimal places. If there moreCritical value(s): -2.326DO.....Sone critical value, separate them with commas.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

On February 28, 20X1, your company purchases a machine for$150,000 with an estimated useful...

Basic Math
1.2K views

If sec(α) = − 13 5 where π 2 < α < π and tan(β) = 24 7 where π < β < 3π 2 , find the exact values of...

Biology
1.2K views

A PET scan reveals that an individual's cancer has spread to the cervical and axillary lymph...

Medical Sciences
1.2K views

In accordance with the physical laws governing filtration and osmosis, which of the following statements is true? a....

Mechanical Engineering
1.2K views

Topic: Agitation A flat-blade turbine agitator with disk having six blade is installed in a tank. The...

Physics
1.2K views

210 A small magnetic needle is kept at 0 0 with its moment along the...

Statistics
1.2K views

regional Internet provider keeps records of complaints received from its customers Complaints for last month...

Calculus
1.2K views

Solve the problem.An appliance company determines that in order to sell x dishwashers, the price...

Calculus
1.2K views

3 XX 1 Name X 0 Linear Exponential Regression The graphs below represent either a...

Algebra
1.2K views

Multiply, simplify your answer. ?5. ?/15Provide your answer below:

Accounting
1.2K views

2. Find the planned June open-to-buy dollars for the activewear department if: a. June sales...

Finance
1.2K views

Score: 0 of 1 pt 1 of 10 (0 complete) HW Score: 0%, 0 of...