Mathematics, 01.05.2021 09:40 diamond2738
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 709.8. 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 30 high-income individuals and found the sample mean credit score to be 724.4 with a standard deviation of 80.8. Conduct the appropriate test to determine if high-income individuals have higher credit scores at the α=0.05 level of significance. State the null and alternative hypotheses.
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A credit score is used by credit agencies (such as mortgage companies and banks) to assess the cre...
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