Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. A prospective borrower's debt-to-income ratio is the percent of his/her monthly income that is already committed personal debt. Below are data for 12 recent
4. A prospective borrower's debt-to-income ratio is the percent of his/her monthly income that is already committed personal debt. Below are data for 12 recent applicants. D/I (X) 33.23 34.15 30.35 32.13 49.17 19.95 41.42 29.78 54.63 25.55 36.38 37.43 (a) Sketch a modified boxplot of the data. Are there any potential outliers? If so, which value(s)? (b) What is the IQR for debt-to-income ratios? (c) What is the z-score for the applicant who had a debt-to-income ratio of 29.78%? Interpret this result. 5. A machine used in the production of a frozen pizza is designed to cut balls of dough according to a bell-shaped cur with a mean of 10 ounces and a standard deviation of 0.15 ounces. (a) What percent of dough balls weigh less than 9.70 ounces? (b) What percent of dough balls weigh between 9.55 oz and 10.30 oz? (c) What is the cutoff for the heaviest 0.15%% at dough balls
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started