Reese Hobbs
03/03/2023 · Middle School

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 cre score is 706.1 . A credit analyst wondered whether high-income individuals (incomes in excess of \( \$ 100,000 \) per year) had higher credi scores. He obtained a random sample of 45 high-income individuals and found the sample mean credit score to be 719.6 with a standard deviation of 84.2 . Conduct the appropriate test to determine if high-income individuals have higher credit scores at the \( \alpha=0.05 \) level of significance. Click the icon to view the table of critical t-values. Identify the t-statistic. \( t_{0}=\square \) (Round to two decimal places as needed.)

Upstudy ThothAI Solution

Tutor-Verified Answer

Quick Answer

The t-statistic is 1.08.

Step-by-step Solution

Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions