Use discriminant analysis to classify the accompanying new records using only Credit Score and Years of Credit History as input variables.Click here to view the credit approval data. Click here to view the new records.Complete the following table.(Round to four decimal places as needed.)Homeowner Credit Score Years of Credit History Revolving Balance Revolving Utilization Discriminant Score DecisionY57613$21,00015%N5217$4,00090%Y5922$8,50025%N59911$16,30070%N552101$2,50090%Y57515$16,70018%

Discriminant analysis is a statistical method used for classification and prediction purposes. In…

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.1KTQ

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Use discriminant analysis to classify the accompanying new records using only Credit Score and Years of Credit History as input variables. Complete the following table. (Round to four decimal places as needed.) Homeowner Credit Score Years of Credit History Revolving Balance Revolving Utilization Discriminant Score Decision Y 546 9 $21,000 15% enter your response here ▼ Approve Reject N 630 1 $4,000 90% enter your response here ▼ Approve Reject Y 574 6 $8,500 25% enter your response here ▼ Reject Approve N 698 3 $16,300 70% enter your response here ▼ Reject Approve N 668 12 $2,500 90% enter your response here ▼ Approve Reject Y 743 4 $16,700 18% enter your response here ▼ Approve Reject Credit Approval Decisions Homeowner Credit Score Years of…
Which one of the following best defines the term credit scoring? A. Categorizing customers into groups depending on the length of time it takes each customer to pay for purchases B. Compiling a list of accounts receivable segregated by the length of time each receivable has been outstanding C. Evaluating the opportunity costs of a credit policy D. Process of quantifying the probability of default when granting credit to customers E. Tracking of both the number and the size of customer orders over a period of time
Part of your job is to review customer requests for credit. You have three new credit applications on your desk and part of your analysis requires that the current ratios and quick ratios be compared a. Complete the following schedule. (Round the final answers to 2 decimal places.) Account Cash Current non-strategic investments Current receivables Inventory Prepaid expenses Land Current liabilities Current ratio Quick ratio $ $ S $ $ $ $ Kasta 3.900 0 4,320 2,900 460 5,550 3,780 4 1 $ $ $ $ $ $ $ Nasta 1,640 0 1,740 1,610 930 6,380 2,410 $ S $ $ $ 5 5 Dusta 3,300 1,300 310 14,530 4720 25.750 11,080
Directions: Match the vocabulary definitions to the vocabulary words. Vocabulary Words 1. Credit score = 2. FICO = 3. Poor FICO credit score = 4. Exceptional FICO credit score = 5. Payment history scores = 6. Length of credit history= 7. New credit = 8. Total debt, balances, and utilization = Vocabulary Definitions A. Total owed as well as how much available credit a person is using B. All new loans or accounts and all creditor credit report requests C. How long a person has had an account or loan D. Stands for Fair Isaac Corporation, a company that provides lenders with formulas to figure out credit scores E. Credit score that is below 580 F. A way for lenders to predict how likely a person is to pay back a loan on time G. Whether a person is paying bills on time and as agreed H. Credit score of 800 or more
F SUM of Outstanding balance Status Customer C1003 C1004 C1006 C1010 C1012 C1013 C1026 C1028 C1029 C1036 C1037 C1045 C1048 C1051 G C1055 C1057 C1058 C1061 C1066 C1069 C1075 C1076 C1082 C1085 Grand Total H 0-Not Yet Due 30831 30831 I 1-30 Days 25579 3156 2353 31088 J 11791 26748 31-60 Days 61-90 Days 90+ Days 9367 10460 29297 K 25315 103611 25245 24713 L 49958 4115 1659 18793 12116 22957 20307 7791 30907 12102 12235 22997 25366 200712 M Grand Total 9367 25245 30831 24713 11791 26748 4115 1659 18793 10460 12116 22957 20307 25579 7791 3156 30907 12102 12235 2353 22997 29297 25366 25315 416200 N
Which of the following is not one of the three primary credit bureaus? Group of answer choices A. the amount of credit used each month. B. credit utilization. C. credit inquiries. D. credit payment history.
FIND THE ERRORS AND PUT THE ADJUSTMENTS IN THE TEXT RESPONSE OF THIS ASSIGNMENT EXAMPLE: THE AVAILABLE CREDIT SAYS: ____________________ THE ACTUAL AMOUNT OF AVAILABLE CREDIT IS:_____________________
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The credit bureau score model of credit scoring examines: Group of answer choices D. In-house data collected A. Credit card data collected from several banks B. Applicant profile C. FICO scores
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Use this table for calculations: Minimum Days Maximum days % uncollectible 1 30 1.5% 31 60 3.5% 61 90 12% 91 365 70% I need to calculate the number of days each receivable is outstanding look at image to fill in , show work when calculating or using formulas , included all work please. After that fill in the schedule accounts recievable shown in the other image for context. When filling in the schedule of accounts recievable show what the formulas w you use and all work.

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