Recently, Experian Reported That the Average Credit Score for a New-

question 69

Multiple Choice

Recently, Experian reported that the average credit score for a new- car loan was 753. Suppose Ally Financial, a bank holding company that finances car loans, would like to test the hypothesis that the average credit score has increased since the Experian report. A random sample of 20 new- car loans had an average credit score of 764.2 with a sample standard deviation of 34.5. Ally Financial would like to set α = 0.05. The p- value for this hypothesis test would be between ______.

• A)0.10 and 0.20
• B)0.05 and 0.10
• C)0.01 and 0.025
• D)0.025 and 0.05

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Definitions:

Unemployment Compensation

Money paid by the government to unemployed workers who meet certain eligibility requirements.

Salaried Quarters

A housing or lodging provision as part of an employment compensation package, often found in academic, military, or corporate settings.

Weekly Salary

The total amount of money earned by an employee in a week, often calculated by dividing an annual salary by 52.

Hourly Wage

Compensation paid to an employee calculated on a per-hour basis.