FICO PROBLEM 14 methad of calculat dit score to be 695. Thad claims that number

Question

FICO PROBLEM 14 methad of calculat dit score to be 695. Thad claims that number Average Credit Scorede 2015 695 ANSWER POINTS A STATE THE APPROPRIATE H1: YOUR ANSWER MUST BE IN THE PROPER FORMAT IN THE PROPER FORMAT D STATE THE TEST VALUE (S B STATE THE APPROPRIATE HO; YOUR ANSWER MUST BE C STATE THE CLAIM-USE THE CORRECT FORMAT E STATE THE CRITICAL VALUE(S) AFTER PLACING THE CRITICAL VALUES) AND THE TEST VALUE ON THE PROPERFIGURE THE TEST VALUE I5 X. IN THE CRT ICAL REGIONS Y, IN THE NON CRITICAL RECION(S)

Explanation / Answer

a)
H1 : mu > 695

b)
Ho: mu = 695

c)
claim is average credit score is more than 695

d)
TS = (Xbar - mu)/(sd/sqrt(n))
= (705 - 695)/(56.25/sqrt(121))
= 1.9555

e)
critical value = P( Z > z) = 0.01
z = 2.327

F)
first graph is correct {right tailed}

g)
TS lies in non-critical region

h)
c) we do not reject Ho

i)

there is not sufficient evidence that mean is more than 695

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