A credit score is used by credit agencies such as mortgage

Last updated: 4/10/2023

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 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 33 high income individuals and found the sample mean credit score to be 728 9 with a standard deviation of 82 5 Conduct the appropriate test to determine if high income individuals have higher credit scores at the a 0 05 level of significance State the null and alternative hypotheses Hoi H Y Tyne integers or decimals Do not round