Credit Scores and Reports Answers

Eli 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.NameExperianEquifaxTransUnionRoy750792661Dirk771707755Haley643642770Valerie646773762Help Eli evaluate his applicants based on their mean and median credit scores.a.Valerie has the highest mean score, but Roy has the highest median score.b.Dirk has the highest mean score and the highest median score.c.Roy has the highest mean score, but Valerie has the highest median score.d.Dirk has the highest mean score, but Valerie has the highest median score.

A real estate agent is trying to find the average credit score of some of her clients. She compiled the scores in the table below. What is the mean credit score in this group? (Round to the nearest whole point, if applicable.)787615550674784773620720704a.668b.784c.692d.704

Violet ordered her annual credit reports. Her Experian score is 804, her Equifax score is 810, and her TransUnion score is 784. What is Violet’s median credit score? (Round to the nearest whole point, if applicable.)a.797b.810c.804d.799

Ned is looking over his credit scores. His Experian score is 690, his Equifax score is 691, and his TransUnion score is 651. What is his mean credit score? (Round to the nearest whole point, if applicable.)a.677b.671c.665d.690

One of Rachel’s duties as a loan officer is to review the credit scores of loan applicants. The scores of several such applicants can be seen in the table below.NameExperianEquifaxTransUnionLeslie775803675Pat668821774Sam706720732Alex739816799Based on each applicant’s median credit score, to which client is Rachel likely to offer the best interest rates?a.Leslieb.Patc.Samd.Alex

Daniel is looking over the credit scores of a batch of potential new hires. Their credit scores are compiled in the table below. What is the mode of this group of credit scores? (Round to the nearest whole point, if applicable.)812769744812688725744744801a.812b.744c.760d.There is no mode in this group.

Ethel and Jack each separately apply for and receive a loan worth $7,725 apiece. Ethel has a relatively average credit rating, so her loan has an APR of 9.14%, compounded monthly. Jack’s credit rating is excellent, so his loan has an APR of 6.88%, compounded monthly. If they both pay off their respective loans by making six years of identical monthly payments, how much more will Ethel pay than Jack? (Round all dollar values to the nearest cent.)a.$1,047.51b.$1,681.17c.$687.48d.$613.44

Eileen just received her credit scores from the three major credit bureaus. Her Experian score is 824, her Equifax score is 840, and her TransUnion score is 832. What is the mode of Eileen’s credit scores? (Round to the nearest whole point, if necessary.)a.840b.832c.824d.There is no mode in this group.

Mary is averaging her grandchildren’s credit scores. She has arranged the scores in the table shown below. What is the median credit score in this group? (Round to the nearest whole point, if applicable.)639732790837677744637821a.735b.738c.757d.There is no median in this group.