Good credit The Fair Isaac Corporation FICO credit score is used by banks and other...
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Good credit The Fair Isaac Corporation FICO credit score is 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 720 or more indicating that a person is a very good credit risk An economist wants to determine whether the mean FICO score is more than the cutoff of 720 She finds that a random sample of 120 people had a mean FICO score of 740 with a standard deviation of 90 Can the economist conclude that the mean FICO score is greater than 720 Use the a 0 05 level of significance and the P value method with the TI 84 Plus calculator Part 1 of 4 State the appropriate null and alternate hypotheses Ho 720 H H 720 This hypothesis test is a right tailed test Part 2 of 4 Compute the P value Round the answer to at least four decimal places P value 0 0075 Part 3 of 4 Determine whether to reject Ho Reject Part 3 4 Part 4 of 4 the null hypothesis Ho State a conclusion than the cutoff of 720
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