Business, 16.06.2021 03:40 jennnifercrd59jc

Suppose that 57% of all people with credit records improve their credit rating within three years. Suppose that 22% of the population at large have poor creditratings within three years. What percentage of then people who will improve their credit records within the next three years are the ones who currently have good credit ratings? ratings, and of those only 25% will improve their credit

Answers: 1

Show answers

Answers

(a) The percentage of people currently have poor credit ratings and will improve their credit records within the next three years is 12.54%.

(b) The percentage of the people who will improve their credit records within the next three years are the ones who currently have good credit ratings is 44.46%.

Explanation:

Note: This question is not properly arranged. It is therefore, properly rearranged before answering the question as follows:

Suppose that 57% of all people with credit records improve their credit ratings within three years. Suppose that 22% of the population at large have poor credit records, and of those only 25% will improve their credit ratings within three years. (a) What percentage of people currently have poor credit ratings and will improve their credit records within the next three years? (b) What percentage of the people who will improve their credit records within the next three years are the ones who currently have good credit ratings?

The explanation of the answers is now provided as follows:

Based on the question, we have:

Percentage that improve credit rating = 57%

Percentage that do NOT improve credit rating = 100% - Percentage that improve credit rating = 100% - 57% = 43%

Percentage with poor credit rating = 22%

Percentage with good credit rating = 100% - Percentage with poor credit rating = 100% - 22% = 78%

Therefore, we have:

(a) What percentage of people currently have poor credit ratings and will improve their credit records within the next three years?

Percentage with poor credit rating that will improve credit records = Percentage with poor credit rating * Percentage that improve credit rating = 57% * 22% = 12.54%

Therefore, the percentage of people currently have poor credit ratings and will improve their credit records within the next three years is 12.54%.

(b) What percentage of the people who will improve their credit records within the next three years are the ones who currently have good credit ratings?

Percentage with good credit rating that will improve credit rating = Percentage that improve credit rating * Percentage with good credit rating = 57% * 78% = 44.46%

Therefore. the percentage of the people who will improve their credit records within the next three years are the ones who currently have good credit ratings is 44.46%.

Answer from: Quest

hyhggefmvz

bbmzbmzgzmkgsgzkhxldluox

Answer from: Quest

the first one $24,630

Another question on Business

Business, 22.06.2019 19:40

Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40

Answers: 3

Answer

Business, 22.06.2019 20:40

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.

Answers: 1

Answer

Business, 22.06.2019 21:00

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

Answer

Business, 23.06.2019 00:10

Mno corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. the company based its predetermined overhead rate for the current year on the following data: total estimated direct labor-hours 50,000 total estimated fixed manufacturing overhead cost $ 285,000 estimated variable manufacturing overhead per direct labor-hour $ 3.80 recently, job p123 was completed with the following characteristics: total actual direct labor-hours 20 direct materials $ 710 direct labor cost $ 500 the amount of overhead applied to job p123 is closest to:

Answers: 2

Answer

You know the right answer?

Suppose that 57% of all people with credit records improve their credit rating within three years. S...

Questions

Business, 11.09.2019 22:30

Summer leasing received $12,000 for 24months rent in advance. how should summer record this transaction? debit cash; credit deferred revenue. debit...