The document discusses credit score statistics for 32-year-old mortgage applicants at a credit union. It states their credit scores are normally distributed with a mean of 605 and standard deviation of 103. It then asks several probability questions about the distribution, such as finding credit score values that define certain percentiles and the probability of an applicant scoring above or below given values.
The credit scores of 32yearold mortgage applicants at Dire.pdf
1. The credit scores of 32-year-old mortgage applicants at Directions Credit Union are normally
distributed with a mean of 605 and a standard deviation of 103. Round your answers to four
decimal places.
(a) What is the probability that a randomly selected 32-year-old mortgage applicant has a credit
score lower than 800?
(b) Find the credit score that defines the upper 6 percent.
(c) Seventy-four percent of the 32-year-old mortgage applicants will have a credit score higher
than what value?
(d) Within what range would the middle 81 percent of credit scores lie? _____ to ______
(e) What is the probability that a randomly selected 32-year-old mortgage applicant has a credit
score higher than 729?
(f) What proportion of 32-year-olds applying for a mortgage have credit scores between 570 and
590?
