Credit scores are used by banks and other lenders to determine whether someone is a...
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Credit scores are used by banks and other lenders to determine whether someone is a good credit risk Scores range from 300 to 850 with a score of 725 or more indicating that a person is a good credit risk An economist finds that a simple random sample of 158 people had a mean credit score of 744 with a standard deviation of 81 Can the economist conclude that the mean credit score is more than 725 Use the a 0 01 level a State the null and alternative hypotheses Ho H b Find the critical value and sketch the rejection region Sketch of Rejection Region 3 2 1 0 1 2 Critical value s c Find the test statistic Q d Find the p value 3 2 1 0 If there are two critical values list both values separated by a comma 2 3 3 2 1 3 Q
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