A credit score measures a persons creditworthiness. Assume the average credit sc

Question

A credit score measures a persons creditworthiness. Assume the average credit score for Americans is 707. Assume the scores are normally distributed with a standard deviation of 40.
A.) determine the interval of credit scores that are one standard deviation around the mean B.) determine the interval of credit scores that are two standard deviations around the mean. C.) determine the interval of credit scores that are three standard deviations around the mean. A credit score measures a persons creditworthiness. Assume the average credit score for Americans is 707. Assume the scores are normally distributed with a standard deviation of 40.
A.) determine the interval of credit scores that are one standard deviation around the mean B.) determine the interval of credit scores that are two standard deviations around the mean. C.) determine the interval of credit scores that are three standard deviations around the mean.
A.) determine the interval of credit scores that are one standard deviation around the mean B.) determine the interval of credit scores that are two standard deviations around the mean. C.) determine the interval of credit scores that are three standard deviations around the mean.

Explanation / Answer

Ans:

Given that

mean=707

standard deviation=40

a)lower limit=707-40=667

upper limit=707+40=747

(667,747)

b)lower limit=707-2*40=707-80=627

upper limit=707+2*40=707+80=787

(627,787)

c)lower limit=707-3*40=707-120=587

upper limit=707+3*40=707+120=827

(587,827)

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