Question

one of rachels 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.

based on each applicants median credit score, to which client is rachel likely to offer the best interest rates?
a. leslie
b. pat
c. sam
d. alex

Explanation:

Find the median credit score for each applicant

Using the Median Credit Score knowledge point

• Leslie: Scores are \(675, 775, 803\). The median is \(775\).
• Pat: Scores are \(668, 774, 821\). The median is \(774\).
• Sam: Scores are \(706, 720, 732\). The median is \(720\).
• Alex: Scores are \(739, 799, 816\). The median is \(799\).

Determine the client with the best interest rate

Using the Credit Score Impact knowledge point

• Higher credit scores qualify for better (lower) interest rates.
• Comparing the medians: \(799 > 775 > 774 > 720\).
• Alex has the highest median credit score of \(799\).

Answer:

• a. Leslie
• b. Pat
• c. Sam
• d. Alex (Correct answer)