## Question

###### A credit score is used by credit agencies (such as mortgage companies and banks) to assess...

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 706.4. 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 42 high-income individuals and found the sample mean credit score to be 720.6 with a standard deviation of 81.6. 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. HOH HP (Type integers or decimals. Do not round.) Identify the t-statistic 10- (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 sufficient evidence to claim that the mean credit score of high-income individuals is

## Answers

Answer: Ho u = 706.4 Ha : M > 706.4 Test statistics : t 720.6-706.14 X-M s/ju 61.6/542 t = 1 1277|v P-value: degree of faeedom dt = n-1 : 12-1=41 + :1:127 (Right failed we get the p-value 10.13311 Conclusion ! P-value >0.05, we fail to Jeject null hypothesis. There is not sutticient evidence to concoude that high- income individuals have higha cacdit scole

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