Your Fair Isaacs Corporation (FICO) credit score is used to determine your creditworthiness. It is used to determine whether you qualify for a mortgage or credit card and is even used to determine interest rates. FICO scores have a range of 300 to 850, with a higher score indicating a better credit history. The given data represent the interest rate (in percent) a bank would offer on a 36-month auto loan for various FICO scores.

Credit Score	Interest Rate
545	19.0
595	18.0
640	12.2
675	8.6
705	6.7
750	5.2

Question 1

Which variable do you believe is likely the explanatory variable?

Interest Rate

Whether or not you are approved for the loan

Length of auto loan

Credit Score

Question 2

Which variable do you believe is likely the response variable?

Length of auto loan

Credit Score

Whether or not you are approved for the loan

Interest Rate

Question 3

Are the explanatory and response variables qualitative or quantitative?

Quantitative

Qualitative