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...


Can you help me make a conclusion regarding the hypothesis?


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.<br>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 32 high-income<br>individuals and found the sample mean credit score to be 724.9 with a standard deviation of 82.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance.<br>Ho: H = 709.9<br>H1: µ > 709.9<br>(Type integers or decimals. Do not round.)<br>Identify the t-statistic.<br>to = 1.02 (Round to two decimal places as needed.)<br>Identify the P-value.<br>P-value = 0.158 (Round to three decimal places as needed.)<br>Make a conclusion regarding the hypothesis.<br>v the null hypothesis. There<br>V sufficient evidence to claim that the mean credit score of high-income individuals is<br>

Extracted text: 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 32 high-income individuals and found the sample mean credit score to be 724.9 with a standard deviation of 82.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the a= 0.05 level of significance. Ho: H = 709.9 H1: µ > 709.9 (Type integers or decimals. Do not round.) Identify the t-statistic. to = 1.02 (Round to two decimal places as needed.) Identify the P-value. P-value = 0.158 (Round to three decimal places as needed.) Make a conclusion regarding the hypothesis. v the null hypothesis. There V sufficient evidence to claim that the mean credit score of high-income individuals is
Jun 10, 2022
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