Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The credit scores of 35-year-olds applying for a mortgage at Ulysses Mortgage Associates are normally distributed with a mean of 620 and a standard deviation

The credit scores of 35-year-olds applying for a mortgage at Ulysses Mortgage Associates are normally distributed with a mean of 620 and a standard deviation of 90.

(a)

Find the credit score that defines the upper 20 percent.(Use Excel or Appendix C for calculation of z-value. Round your final answer to 2 decimal places.)

Credit score

(b)

Eighty-five percent of the customers will have a credit score higher than what value?(Use Excel or Appendix C for calculation of z-value. Round your final answer to 2 decimal places.)

Credit score

(c)

Within what range would the middle 90 percent of credit scores lie?(Use Excel or Appendix C for calculation of z-value. Round your final answer to 2 decimal places.)

Range to

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Engineering Mathematics

Authors: ERWIN KREYSZIG

9th Edition

0471488852, 978-0471488859

More Books

Students also viewed these Mathematics questions

Question

Explain the difference between load and no-load mutual funds.

Answered: 1 week ago

Question

how much CaCl 2 and water to make 1 mol of CaCl 2 ?

Answered: 1 week ago