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 = 0.05. The p-value for this hypothesis test would be between ________.A) 0.01 and 0.025
B) 0.025 and 0.05
C) 0.05 and 0.10
D) 0.10 and 0.20
Question 2
State University offers several sections of a Business Statistics course in an in-class and online format. Both formats are administered the same final exam each year.
You have been assigned to test the hypothesis that the average final exam score of in-class students is different from the average final exam score of online students. The following data summarizes the sample statistics for the final exam scores for students from each format. Assume that the population variances are unequal. In-class Format Online FormatSample mean 86.5 84.7Sample size 22 25Sample standard deviation 4.6 6.1If Population 1 is defined as in-class format and Population 2 is defined as online format, and using = 0.05, the critical value for this hypothesis test would be ________.A) 2.086
B) 2.052
C) 2.015
D) 2.000
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