Hypothesis Testing: Means when o is NOT known Problem#5 15. Credit Scores A Fair Isaac Corporation (FICO) score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Its value ranges from 300 to 850. An individual with a FICO score over 700 is considered to be a quality credit risk. According to Fair Isaac Corporation, the mean FICO score is 703.5. 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 40 high-income individuals and found the sample mean credit score to be 714.2 with a stan- dard deviation of 83.2. Conduct the appropriate test to deter- mine if high-income individuals have higher FICO scores at the a= 0.05 level of significance. Answers: Fail to Reject Ho: t(critical) = 1.685, t = 0.813
Hypothesis Testing: Means when o is NOT known Problem#5 15. Credit Scores A Fair Isaac Corporation (FICO) score is used by credit agencies (such as mortgage companies and banks) to assess the creditworthiness of individuals. Its value ranges from 300 to 850. An individual with a FICO score over 700 is considered to be a quality credit risk. According to Fair Isaac Corporation, the mean FICO score is 703.5. 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 40 high-income individuals and found the sample mean credit score to be 714.2 with a stan- dard deviation of 83.2. Conduct the appropriate test to deter- mine if high-income individuals have higher FICO scores at the a= 0.05 level of significance. Answers: Fail to Reject Ho: t(critical) = 1.685, t = 0.813
Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter19: Probabilistic Dynamic Programming
Section19.4: Further Examples Of Probabilistic Dynamic Programming Formulations
Problem 7P
Related questions
Question
Please help step by step with a explanation for Program R (CS) with a final code for understanding thank you
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.Recommended textbooks for you
Operations Research : Applications and Algorithms
Computer Science
ISBN:
9780534380588
Author:
Wayne L. Winston
Publisher:
Brooks Cole
Operations Research : Applications and Algorithms
Computer Science
ISBN:
9780534380588
Author:
Wayne L. Winston
Publisher:
Brooks Cole