Hypothesis Testing of Mean: FICO credit rating scores

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• Hypothesis Testing - PHStat/Excel/SSBEC

  Thus, the FICO credit rating scores appear to affect mortgage payments. *Note: I didn't know how to word this portion.

• Hypothesis testing, confidence interval for mean and proportion

  Does the FICO credit rating score appear to affect mortgage payments?

• Hypothesis Testing of Different Situations

  A random sample of credit ratings is obtained, and the FICO scores are summarized with these statistics: n=18, x=2700g, s = 645g.

• Calculation of Confidence Interval using STATDISK

  Credit Rating?When consumcers apply for credit, their credit is rated using FICO scores.

• Critical Values and Confidence Levels

  Use the given information to find the minimum sample size required to estimate an unknown population mean µ. How many adults must be randomly selected to estimate the mean FICO (credit rating) score of working adults in a country?

• Probability Distribution:

  Credit Rating - There is a 1% delinquency rate for consumers with FICO (Fair Isaac & Company) credit rating scores above 800.

• This post addresses credit rating agencies.

  The reason why credit scores can vary is because the model used is not uniform. Certain agencies can place greater weight on certain aspects of the credit score.

• Improving the FICO score

  24681 FICO Scores How can an individual improve their FICO score? Depending on the FICO score, there are a couple of things that can be done. An individual with a lower score has an easier chance to improve their score.

• Check if the distribution is normal.

  The following is a distribution of FICO scores across the country: a. Over 800-11% of the population b. 700-800 - 49% of the population c. 600-700 - 27% of the population d.