Homework Answers
A credit card is a rectangular plastic instrument issued by a financial company such as banks which enables the credit card holder to borrow money to make purchases now and to repay the same after reasonable credit period. It is like a short term loan. A large number of businesses enable the consumer to make the payment using the credit card which has become one of the most widely accepted mode of payments in present scenario. A credit card is like a cash advance in which the credit card issuer (banks) creates a revolving account and provides the card holder to draw on the facility when he needs funds.
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1. What does a credit card provide? In general, who provides credit cards?
a. predicit the probability a card holder who charged 31k does not have a credit card...
a. predicit the probability a card holder who charged 31k does
not have a credit card will purch a premium card.
b. predicit prob of card holder w/ 31k and HAS a credit card
will ourch a premium card.
c. predicit the prob of card holder with 15.5k that does NOT
have a credit card to purch a premium.
The marketing department for a credit card company wants to determine which of its existing standard credit pard holders should be...
According to the report by the government-lending institution, college students who have credit cards have an...
According to the report by the government-lending institution, college students who have credit cards have an average credit card balance of $1,086. A random sample of 60 college students was selected, and their average credit card debt was found to be $1,440. Assume the standard deviation for student credit card debt is $286. Using a = 0.10, complete parts a and b below. a. Does this sample provide enough evidence to challenge the findings by the lending institution? Determine the...
CREDIT CARDS: If you have a credit card, you may use it to answer these questions....
CREDIT CARDS: If you have a credit card, you may use it to answer these questions. If you don't have a credit card or don't want to use your credit card, then use one you get in the mail or one from on-line. Find the following information: 1. What type of credit card is it? store (or airlines) card or bank card or other? 2. How is the finance charge (FC) calculated? 3. What is the APR for this credit...
At a major credit card bark, the percentages of people who storically apply for the Silver,...
At a major credit card bark, the percentages of people who storically apply for the Silver, Gold and Platinum cards are 60% 30% and 10% respectively in a recent sample of to a promotion of 200 customers, 100 applied for Silver, 61 for Gold and 39 for Platinum Complete parts a through e below a) Compute the standardized residual for each type of card. Standardized Residual Silver card Gold card DOO Platinum card Round to three decimal places as needed.)...
Consumers with at least one credit card have a mean of 4.84 credit cards. [Source: Sumit...
Consumers with at least one credit card have a mean of 4.84 credit cards. [Source: Sumit Agarwal, John C. Driscoll, Xavier Gabaix, and David Laibson, “Learning in the Credit Card Market,” Working Paper 13822, National Bureau of Economic Research (NBER), February 2008.] You want to test the hypothesis that the mean number of credit cards held by high-income consumers (consumers with annual incomes over $100,000) is different from the reported mean of 4.84. A random sample of 100 high-income consumers...
At a major credit card bank, the percentages of people who historically apply for the Silver,...
At a major credit card bank, the percentages of people who historically apply for the Silver, Gold and Platinum cards are 60%, 30% and 10% respectively. In a recent sample of customers responding to a promotion, of 200 customers, 110 applied for Silver, 53 for Gold and 37 for Platinum. Complete parts a through c below. Select the cards that have particularly large standardized residuals. Select all that apply A. The platinum card B. The gold card □ C. The...
Only 0.02% of credit card holders of a company report the loss or theft of their credit cards each month
Only 0.02% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 15,000 credit cards in the city of Memphis. Use the Poisson probability tables to answer the following questions. What is the probability that during the next month in the city of Memphisa. no one reports the loss or theft of their credit cards?b. every credit card is lost or stolen?c. six people report the loss or theft...
According to a study by Decision Analyst, 21% of the people who have credit cards are...
According to a study by Decision Analyst, 21% of the people who have credit cards are very close to the total limit on the card(s). Suppose a random sample of 600 credit card users is taken. What is the probability that more than 150 credit card users are very close to the total limit on their card(s)? Appendix A Statistical Tabl- (Round all z values to 2 decimal places. Round all intermediate calculations and answer to 4 decimal places.) p=
The Language is for Java ------ Input ------- credit-cards-2.dat //////////////////// Output//////////// Enter a filename\n Credit card...
The Language is for Java
------ Input -------
credit-cards-2.dat
//////////////////// Output////////////
Enter a filename\n
Credit card number: 3056 9309 0259 04\n
Checksum: 50\n
Card status: VALID\n
Credit card number: 3852 0000 0232 37\n
Checksum: 40\n
Card status: VALID\n
Credit card number: 6011 1111 1111 1117\n
Checksum: 30\n
Card status: VALID\n
Credit card number: 6011 0009 9013 9424\n
Checksum: 50\n
Card status: VALID\n
Credit card number: 3530 1113 3330 0000\n
Checksum: 40\n
Card status: VALID\n
Credit card number: 3566 0020 2036...
5. Special types of bank credit cards Many credit cards offer features that are tailored to...
5. Special types of bank credit cards Many credit cards offer features that are tailored to users' preferences and lifestyles. In the following situations, identify which credit card is a good choice to achieve the user's goal. Special Bank Credit Cards for Different Lifestyles and Preferences Amy has a history of charging a lot on her credit card and doesn't carry a high monthly balance. The older Amy gets, the more she finds that friends have scattered from the old...
a. predicit the probability a card holder who charged 31k does
not have a credit card will purch a premium card.
b. predicit prob of card holder w/ 31k and HAS a credit card
will ourch a premium card.
c. predicit the prob of card holder with 15.5k that does NOT
have a credit card to purch a premium.
The marketing department for a credit card company wants to determine which of its existing standard credit pard holders should be...
According to the report by the government-lending institution, college students who have credit cards have an average credit card balance of $1,086. A random sample of 60 college students was selected, and their average credit card debt was found to be $1,440. Assume the standard deviation for student credit card debt is $286. Using a = 0.10, complete parts a and b below. a. Does this sample provide enough evidence to challenge the findings by the lending institution? Determine the...
CREDIT CARDS: If you have a credit card, you may use it to answer these questions. If you don't have a credit card or don't want to use your credit card, then use one you get in the mail or one from on-line. Find the following information: 1. What type of credit card is it? store (or airlines) card or bank card or other? 2. How is the finance charge (FC) calculated? 3. What is the APR for this credit...
At a major credit card bark, the percentages of people who storically apply for the Silver, Gold and Platinum cards are 60% 30% and 10% respectively in a recent sample of to a promotion of 200 customers, 100 applied for Silver, 61 for Gold and 39 for Platinum Complete parts a through e below a) Compute the standardized residual for each type of card. Standardized Residual Silver card Gold card DOO Platinum card Round to three decimal places as needed.)...
At a major credit card bank, the percentages of people who historically apply for the Silver, Gold and Platinum cards are 60%, 30% and 10% respectively. In a recent sample of customers responding to a promotion, of 200 customers, 110 applied for Silver, 53 for Gold and 37 for Platinum. Complete parts a through c below. Select the cards that have particularly large standardized residuals. Select all that apply A. The platinum card B. The gold card □ C. The...
According to a study by Decision Analyst, 21% of the people who have credit cards are very close to the total limit on the card(s). Suppose a random sample of 600 credit card users is taken. What is the probability that more than 150 credit card users are very close to the total limit on their card(s)? Appendix A Statistical Tabl- (Round all z values to 2 decimal places. Round all intermediate calculations and answer to 4 decimal places.) p=
The Language is for Java
------ Input -------
credit-cards-2.dat
//////////////////// Output////////////
Enter a filename\n
Credit card number: 3056 9309 0259 04\n
Checksum: 50\n
Card status: VALID\n
Credit card number: 3852 0000 0232 37\n
Checksum: 40\n
Card status: VALID\n
Credit card number: 6011 1111 1111 1117\n
Checksum: 30\n
Card status: VALID\n
Credit card number: 6011 0009 9013 9424\n
Checksum: 50\n
Card status: VALID\n
Credit card number: 3530 1113 3330 0000\n
Checksum: 40\n
Card status: VALID\n
Credit card number: 3566 0020 2036...
5. Special types of bank credit cards Many credit cards offer features that are tailored to users' preferences and lifestyles. In the following situations, identify which credit card is a good choice to achieve the user's goal. Special Bank Credit Cards for Different Lifestyles and Preferences Amy has a history of charging a lot on her credit card and doesn't carry a high monthly balance. The older Amy gets, the more she finds that friends have scattered from the old...
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