Barker Hammond
11/28/2024 · 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 credit score is 710.1 . 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 48 high-income individuals and found the sample mean credit score to be 722.8 with a standard deviation of 83.8 . 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. Make a conclusion regarding the hypothesis. individuals is (Type an integer or a decimal. Do not round.)

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The t-test shows that there is not enough evidence to conclude that high-income individuals have higher credit scores than the general population mean of 710.1 at the \( \alpha = 0.05 \) level of significance.

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