Answered: The average credit score in Canada is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

The average credit score in Canada is 650. Assume that credit scores follow a normal distribution with a standard deviation of 80.
(a) Find the 95th percentile of credit scores in Canada.
Answer:

(b) 80% of Canadians have a credit score higher than what value?

(c) Mac's credit score is 720. In what percentile is his credit score?
Answer:

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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