Unit 8 Exam

2

All of these are true about late credit card payments, EXCEPT…

2

Meghan asks 4 friends for advice on how to raise her credit score, which is currently at 650. Which is the strongest piece of advice?

2

Which of the following actions would be included in your credit report?

2

Struggling to pay off excess debt can lead to all of these consequences, EXCEPT…

2

Which student is most likely to have the highest credit score?

2

All of the following statements about predatory lending are TRUE EXCEPT…

2

Why is it important to check your credit report regularly?

2

How is a secured credit card different from the far more typical unsecured credit card?

2

Theo reviews his credit report and decides to put a “red flag” on it. What does that mean?

2

What is the highest FICO credit score you can obtain?

2

What is the purpose of a credit report?

2

A person has a credit utilization ratio of 25% and they open a new credit card without changing their spending. Which statement correctly describes what will happen to their utilization ratio?

2

If a potential lender checks your credit score and finds out it is above 750, which is the most likely outcome?

2

Which of the following statements about wages and household American debt is true?

2

Which of these parties is least interested in checking your credit score?

Use the box plot about average new car payments to answer questions 16 to 18

2

A data set with low standard deviation has…
Data points clustered close to the mean
Data points spread out far away from the mean
A skewed distribution
A large interquartile range

2

The histogram below shows data on rent prices for a representative sample of 500 US renters, based on the 2020 Census. All of the following statements are true, EXCEPT…

Consider the following data about credit scores:

430, 619, 645, 650, 690, 700, 704, 725, 730, 760, 800, 850, 852, 853

10

Complete the 5-number summary.
Minimum: _______ 
First Quartile:_______ 
Median:_______ 
Third Quartile:_______ 
Maximum: _______ 

4

What is the Range _______ and Interquartile range_______  of the data? 

10

A 2021 study by Debthammer examined payday lending across American cities. The histogram below shows data from a sample of 30 cities on the average effective APR of payday lenders.
The histogram is only partially completed; use the data set below to complete it.

8

Students were asked about their current student loan debt at two nearby universities. For each statement, circle the correct group.

The following histogram shows data on the credit card balances of 25 people surveyed.  Use it to answer questions 24 and 25.

4

True or False: The median credit card balance is greater than the mean credit card balance.

10

4

10

	Group 1	Group 2
Has the larger interquartile range:
Has the larger median:
Shows that 75% of respondents had more than $19,000 in debt:
Has a smaller range:

	Group 1	Group 2
Has the larger interquartile range:
Has the larger median:
Shows that 75% of respondents had more than $19,000 in debt:
Has a smaller range:

Unit 8 Exam

All of these are true about late credit card payments, EXCEPT…

Meghan asks 4 friends for advice on how to raise her credit score, which is currently at 650. Which is the strongest piece of advice?

Which of the following actions would be included in your credit report?

Struggling to pay off excess debt can lead to all of these consequences, EXCEPT…

Which student is most likely to have the highest credit score?

All of the following statements about predatory lending are TRUE EXCEPT…

Why is it important to check your credit report regularly?

How is a secured credit card different from the far more typical unsecured credit card?

Theo reviews his credit report and decides to put a “red flag” on it. What does that mean?

What is the highest FICO credit score you can obtain?

What is the purpose of a credit report?

A person has a credit utilization ratio of 25% and they open a new credit card without changing their spending. Which statement correctly describes what will happen to their utilization ratio?

If a potential lender checks your credit score and finds out it is above 750, which is the most likely outcome?

Which of the following statements about wages and household American debt is true?

Which of these parties is least interested in checking your credit score?

A data set with low standard deviation has…Data points clustered close to the meanData points spread out far away from the meanA skewed distributionA large interquartile range

The histogram below shows data on rent prices for a representative sample of 500 US renters, based on the 2020 Census. All of the following statements are true, EXCEPT…

A 2021 study by Debthammer examined payday lending across American cities. The histogram below shows data from a sample of 30 cities on the average effective APR of payday lenders.The histogram is only partially completed; use the data set below to complete it.

Students were asked about their current student loan debt at two nearby universities. For each statement, circle the correct group.

True or False: The median credit card balance is greater than the mean credit card balance.

All of these are true about late credit card payments, EXCEPT…

Meghan asks 4 friends for advice on how to raise her credit score, which is currently at 650. Which is the strongest piece of advice?

Which of the following actions would be included in your credit report?

Struggling to pay off excess debt can lead to all of these consequences, EXCEPT…

Which student is most likely to have the highest credit score?

All of the following statements about predatory lending are TRUE EXCEPT…

Why is it important to check your credit report regularly?

How is a secured credit card different from the far more typical unsecured credit card?

Theo reviews his credit report and decides to put a “red flag” on it. What does that mean?

What is the highest FICO credit score you can obtain?

What is the purpose of a credit report?

A person has a credit utilization ratio of 25% and they open a new credit card without changing their spending. Which statement correctly describes what will happen to their utilization ratio?

If a potential lender checks your credit score and finds out it is above 750, which is the most likely outcome?

Which of the following statements about wages and household American debt is true?

Which of these parties is least interested in checking your credit score?

What is the range for this data set?$257$301$592$872

If 44 people were surveyed about their monthly car payment, how many pay between $141 and $756?11223344

All of the following statements are true, EXCEPT…The median is $592The interquartile range is $30150% of respondents pay between $756 and $101375% of respondents pay less than $756

A data set with low standard deviation has…Data points clustered close to the meanData points spread out far away from the meanA skewed distributionA large interquartile range

The histogram below shows data on rent prices for a representative sample of 500 US renters, based on the 2020 Census. All of the following statements are true, EXCEPT…

A 2021 study by Debthammer examined payday lending across American cities. The histogram below shows data from a sample of 30 cities on the average effective APR of payday lenders.The histogram is only partially completed; use the data set below to complete it.

Students were asked about their current student loan debt at two nearby universities. For each statement, circle the correct group.

True or False: The median credit card balance is greater than the mean credit card balance.

Explain your reasoning (for question 25)

True or False: The distribution of credit card balances has high standard deviation.

Explain your reasoning (to question 27).

What is the range for this data set?$257$301$592$872

If 44 people were surveyed about their monthly car payment, how many pay between $141 and $756?11223344

All of the following statements are true, EXCEPT…The median is $592The interquartile range is $30150% of respondents pay between $756 and $101375% of respondents pay less than $756

Explain your reasoning (for question 25)

True or False: The distribution of credit card balances has high standard deviation.

Explain your reasoning (to question 27).

A data set with low standard deviation has…
Data points clustered close to the mean
Data points spread out far away from the mean
A skewed distribution
A large interquartile range

A 2021 study by Debthammer examined payday lending across American cities. The histogram below shows data from a sample of 30 cities on the average effective APR of payday lenders.
The histogram is only partially completed; use the data set below to complete it.

What is the range for this data set?
$257
$301
$592
$872

If 44 people were surveyed about their monthly car payment, how many pay between $141 and $756?
11
22
33
44

All of the following statements are true, EXCEPT…
The median is $592
The interquartile range is $301
50% of respondents pay between $756 and $1013
75% of respondents pay less than $756

A data set with low standard deviation has…
Data points clustered close to the mean
Data points spread out far away from the mean
A skewed distribution
A large interquartile range

A 2021 study by Debthammer examined payday lending across American cities. The histogram below shows data from a sample of 30 cities on the average effective APR of payday lenders.
The histogram is only partially completed; use the data set below to complete it.

What is the range for this data set?
$257
$301
$592
$872

If 44 people were surveyed about their monthly car payment, how many pay between $141 and $756?
11
22
33
44

All of the following statements are true, EXCEPT…
The median is $592
The interquartile range is $301
50% of respondents pay between $756 and $1013
75% of respondents pay less than $756