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Simple random samples of high-interest mortgages and low-interest mortgages were obtained. For the 17 high-interest mortgages, the borrowers had a mean FICO score of 695 and a standard deviation of 20. For the 17 low-interest mortgages, he borrowers had a mean FICO credit score of 713 and a standard deviaiton of 35. Test the claim that the mean FICO score of borrowers with high-interest mortgages is lower than the mean FICO score of borrowers with low-interest mortgages at the .005 significance level.
Claim: Select an answer
p 1≠p 2
p 1 = p 2
μ 1 ≥ μ 2
μ 1 < μ="">
μ 1 > μ 2
μ 1≠μ 2
p 1 > p 2
μ 1 = μ 2
μ 1 ≤ μ 2
p 1 ≥ p 2
p 1 ≤ p 2
p 1 < p="">
which corresponds to Select an answer
H0: μ 1 ≤ μ 2
H0: μ 1 = μ 2
H1: μ 1 > μ 2
H1: μ 1≠μ 2
H0: p 1 ≤ p 2
H1: p 1≠p 2
H0: μ 1≠μ 2
H1: p 1 < p="">
H1: p 1 > p 2
H1: μ 1 < μ="">
Opposite: Select an answer
p 1 = p 2
p 1 ≤ p 2
p 1 < p="">
p 1 > p 2
μ 1 ≥ μ 2
p 1 ≥ p 2
μ 1 = μ 2
μ 1≠μ 2
p 1≠p 2
μ 1 ≤ μ 2
μ 1 < μ="">
μ 1 > μ 2
which corresponds to Select an answer
H1: μ 1≠μ 2
H0: μ 1≠μ 2
H1: p 1 = p 2
H0: p 1 > p 2
H1: μ 1 < μ="">
H1: μ 1 > μ 2
H1: p 1 <= p="">
H0: p 1≠p 2
H1: p 1 ≥ p 2
H0: μ 1 ≤ μ 2
H0: μ 1 = μ 2
The test is: Select an answer
left-tailed
right-tailed
two-tailed
The test statistic is: t = (to 2 decimals)
The critical value is: (to 3 decimals)
Based on this we: Select an answer
Reject the null hypothesis
Cannot determine anything
Accept the null hypothesis
Fail to reject the null hypothesis
Conclusion There Select an answerdoes / does not appear to be enough evidence to support the claim that the mean FICO score of borrowers with high-interest mortgages is lower than the mean FICO score of borrowers with low-interest mortgages.