27
QuizMultiple Choice

Credit Scores and Reports

Question 27 • 26-27 Ignite Technical Math-Financial Math - MA2007

Tony is a loan officer. He determines his clients’ eligibility for loans and for good interest rates by using their credit scores. The scores of several clients are shown in the following table.NameExperianEquifaxTransUnionNeil726752822Paula634732771Jeff721760754Peter666716707Help Tony evaluate his applicants based on their mean and median credit scores.

Answer
A
Jeff has the highest mean score, but Paula has the highest median score.
B
Neil has the highest mean score, but Jeff has the highest median score.
C
Neil has the highest mean score and the highest median score.
D
Paula has the highest mean score, but Jeff has the highest median score.

Explanation

Neil’s mean is (726 + 752 + 822) ÷ 3 = 766⅔, higher than the other clients’ means. Jeff’s scores in order are 721, 754, and 760, so his median is 754, higher than the other clients’ medians. Therefore, Neil has the highest mean score, but Jeff has the highest median score.

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