Question
The average annual percentage rate (APR) for credit cards held by U.S. consumers is approximately 15 percent (Ouch - Credit Card APR Now Tops 15
The average annual percentage rate (APR) for credit cards held by U.S. consumers is approximately 15 percent ("Ouch - Credit Card APR Now Tops 15 Percent," Time, January 3, 2012). Suppose the APR for new credit card offers is normally distributed with a mean of 15% and a standard deviation of 4%. What APR must a credit card charge to be in the bottom 10% of all cards?
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From Fourier Analysis To Wavelets
Authors: Jonas Gomes, Luiz Velho
1st Edition
3319220756, 9783319220758
