When consumers apply for credit, their credit is rated using FICO (Fair, Isaac, and Company) sco


Question: #11 When consumers apply for credit, their credit is rated using FICO (Fair, Isaac, and Company) scores. A random sample of credit ratings is obtained, and the FICO scores are summarized with these statistics: n= 18, mean = 660.3, s = 95.9. Use a 0.05 significance level to test the claim that these credit ratings are from a population with a mean that is equal to 700. If the Bank of Newport requires a credit rating of 700 or higher for a car loan, do the results indicate that everyone will be eligible for a car loan? Why or why not?

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