om the edrgmment to be uned for nesidential mortgages in an offort to inrease ho
ID: 3247672 • Letter: O
Question
om the edrgmment to be uned for nesidential mortgages in an offort to inrease homeownership monigages have increased in 2012, the average credit soore for loans that were purchsed by the that was establshed in 1938 ' the Depression to provide local bards wen, money tom the fe goverment to be uned ers of approved m ates As lending standards have ightened during the most recent housing markal crisis, credt scones for bonow compamy was 758 A random sample of 25 mortgeges recently punchased by the company was seledted and t was tound that the average cresit soone was 762 with a sample standand deviation of 30 Compkete parts (aj through (c c aUsing o 005 is there anough evidence from tis sample to conchade hat the average credit scoe increased as the lending standards have tightened? Outermine the null and ahernative hypotheses Choese the correct answer below Determine he cicel valuels) Hound to there decimal places as needed Use a comm to seperate answers as seeded )Explanation / Answer
Average = 758
n=25
Xbar = 762
sample.stdev = 30
a.
Since, n<30, we will use the t value instead of p-value.
t = Xbar - Average / (sample.stdev/sqrt(n)) = (762-758)/(30/sqrt(5)) = .298
Conclusion : Option B is the right option
The P-Value is .384134.
The result is not significant at p < .05.
b.
For a t=.298, at df = n-1 = 25-1=24, we have the p-value of 1-.6179 = .3821
The P-Value is .384134.
The result is not significant at p < .05.
c.
C is the right option
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