Question: Mortgage lenders often use FICO scores to check the
Mortgage lenders often use FICO ® scores to check the credit worthiness of consumers applying for real estate loans. In general, FICO scores range from 300 to 850 with higher scores representing a better credit pro. A lender in a mid-western town would like to estimate the mean credit score of its residents. What is the required number of sample FICO scores needed if the lender does not want the margin of error to exceed 20, with 95% confidence?
Answer to relevant QuestionsSubprime lending was big business in the United States in the mid-2000s, when lenders provided mortgages to people with poor credit. However, subsequent increases in interest rates coupled with a drop in home values ...An employee of the Bureau of Transportation Statistics has been given the task of estimating the proportion of on-time arrivals of a budget airline. A prior study had estimated this on-time arrival rate as 78.5 percent. What ...Which of the following statements are valid null and alternative hypotheses? If they are invalid hypotheses, explain why.a. H0 : ≤ 210; HA: > 210b. H0: µ = 120; HA: µ ≠ 120c. H0: p ≤ 0.24; HA: p > 0.24d. H0: < ...A consumer group has accused a restaurant for using higher fat content than what is reported on its menu. The group has been asked to conduct a hypothesis test to substantiate its claims.a. Is the manager of the restaurant ...It is advertised that the average braking distance for a small car traveling at 65 miles per hour equals 120 feet. A transportation researcher wants to determine if the statement made in the advertisement is false. She ...
Post your question