(Solved): Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to de ...

Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 850 , with a score of 720 or more indicating that a person is a very good credit risk. An economist wants to determine whether the mean Fico score is lower than the cutoff of 720 . She finds that a random sample of 70 people had a mean FICO score of 705 with a standard deviation of 83 . Can the economist conclude that the mean FICO score is less than 720 ? Use the

level of significance and the critical value method. Part:

Part 1 of 5 (a) State the appropriate null and alternate hypotheses.

This hypothesis test is a

test. find critical values