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The following table shows the low - end FICO score and the typical annual percentage rate ( APR ) received when purchasing a car with
The following table shows the lowend FICO score and the typical annual percentage rateAPR received when purchasing a car with a month loan for $
arameters to decimal places.
tage rateAPR
tabletableFICOScoreAPR
b State the correlation coefficient of the equation of best fit. What does it tell you about this equation?
c Use your equation to predict the APR of an individual with a FICO credit score.
d The minimum possible FICO credit score is and banks typically require at least a FICO credit score to be approved for a loan. Why might your prediction from c not be accurate?
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