The credit score of a 35 year old applying for a mortgage at Ulysses Mortgage As

Question

The credit score of a 35 year old applying for a mortgage at Ulysses Mortgage Associates is normally distributed with a mean of 600 and a standard deviation of 100.

(a) Find the credit score that defines the upper 5 percent. (Round your answer to 4 decimal places.)

Credit score

(b)
Seventy-five percent of the customers will have a credit score higher than what value? (Round your answer to 4 decimal places.)

Credit score

(c)
Within what range would the middle 80 percent of credit scores lie? (Round your answers to 4 decimal places.)

Range ____ to ____

Explanation / Answer

Use Excel function

a) NORMINV(.95,600,100) = 764.4853

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