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Test 4 Question 5
Test 4
5. 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 701.2.
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 35 high-income individuals and found the sample mean credit score to be 711.5 with a standard deviation of 83.1.
Conduct the appropriate test to determine if high-income individuals have higher credit scores at the á=0.05 level of significance.
Identify the t-statistic.
Identify the P-value.
Make a conclusion regarding the hypothesis.
________ the null hypothesis. There _______
sufficient evidence to claim that the mean credit score of high-income individuals is greater than ____