Letter to Legislator Assignment
October 18, 2020
Exponential and Logarithmic Functions
October 18, 2020

Before lending someone money, banks must decide whether they believe the applicant will repay the loan. one strategy used is a point system. loan officers assess information about the applicant,

Before lending someone​ money, banks must decide whether they believe the applicant will repay the loan. one strategy used is a point system. loan officers assess information about the​ applicant, totaling points they award for the​ person’s income​ level, credit​ history, current debt​ burden, and so on. the higher the point​ total, the more convinced the bank is that​ it’s safe to make the loan. any applicant with a lower point total than a certain cutoff score is denied a loan. think of this decision as a hypothesis test. since the bank makes its profit from the interest collected on repaid​ loans, their null hypothesis is that the applicant will repay the loan and therefore should get the money. only if the​ person’s score falls below the minimum cutoff will the bank reject the null and deny the loan. complete parts a through c below.
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