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The credit scores of 35-year-olds applying for a mortgage at Ulysses Mortgage Associates are normally distributed with a mean of 600 and a standard deviation of 100. (a) Find the credit score that defines the upper 5 percent. (Use Excel or Appendix C to calculate the z-value. Round your final answer to 2 decimal places.)

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sqdancefan

Answer:

  1.64

Explanation:

There are other appropriate calculators, too. Attached is the output of one of them. The z-value associated with the 95th percentile is 1.64.

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Another calculator shows the additional digits to be 1.64485, so rounding to 1.64 is appropriate.

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