The first misconception is that the balance shouldn't be paid off in full in order to boost the credit score. This is simply not true. You can pay off all of the balance and it will actually improve the score. The score reflects the ability to pay borrowed money back. A credit card is basically a micro-loan of sorts. So if George pays off the balance, he's paying back the credit card company and that tells the company (and others) that his ability to pay is good. Plus it tells about his priorities which is what the credit score indirectly indicates. Other companies will see that George can pay the money back, so they'll be more eager to lend to him.
The other misconception is that being late is fine and improving the payment habits is what brings up the score. This is murky gray area and somewhat true but also somewhat false. What happens is that if you are late then your score goes down by some amount. When you improve the payment habits, the score goes back up. Whether it goes back to the original value or larger depends on the situation. So the second claim George makes is technically true, but there's broader context to consider. It's similar to how if you shoot yourself in the foot in some videogame, and then let your foot heal up, then you're increasing health points. The first act shouldn't have needed to happen and it reflects a weird backwards thinking. If anything, it wastes time where George could have simply been improving the score (rather than decrease it only to increase it back).
The reality is that keeping up with the payments in a timely fashion is what keeps the credit score healthy. Once again, the score reflects someone's ability to pay back borrowed money. It applies to any kind of loan, which a credit card is a part of.
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In short, George is mistaken by two claims he makes
- Not paying off the balance in full improves the credit score
- Being late on payments, and then improving payment habits, will increase the credit score
When in reality keeping up with payments and paying off the balance will improve the credit score. There's no need to hinder oneself on purpose in the goal of improving from that contrived setback.
Side note: the credit card company wants you to carry a balance so they can charge interest on said balance. That's how they make most of their money. However, even if you go against the wishes of the credit card company, they won't ding you credit score points for paying off the balance in full.
Answer:
C
Step-by-step explanation:
The original is L, if it was roated 180 degrees clockwise it would be in the same spot
Answer:
the answer is D, because 30/2 is 15.
Answer:
Part A:
-Minimum: 10
-Q1: 17.5
-Median: 30
-Q3: 42.5
-Maximum: 50
Step-by-step explanation:
Part B: IQR= 25
This shows that the data varies for 25 different numbers. That HALF of the data is between 25 numbers.
Part C: Using a box-and-whisker plot you can interpret the different values. Minimum is the first dot (10), connected to the first line (Q1 which is 17.5), connected by a box to the median (30), connected by a box to the third line (Q3 which is 42.5), connected to the last dot which is the maximum (50). And IQR is Q3-Q1, so 42.5-17.5 which is 25.
This question is incomplete, the complete question is;
A study on the latest fad diet claimed that the amounts of weight lost by all people on this diet had a mean of 24.6 pounds and a standard deviation of 8.0 pounds.
Step 2 of 2 : If a sampling distribution is created using samples of the amounts of weight lost by 51 people on this diet, what would be the standard deviation of the sampling distribution of sample means? Round to two decimal places, if necessary.
Answer:
the standard deviation of the sampling distribution of sample means is 1.12
Step-by-step explanation:
Given the data in the question,
population mean; μ = 24.6 pounds
Population standard deviation; σ = 8.0 pounds
sample size; n = 51
Now determine the standard deviation of the sampling distribution of sample means.
standard deviation of the sampling distribution of sample means is simply
⇒ population standard deviation / √sample size
= 8.0 / √51
= 8.0 / 7.141428
= 1.120224 ≈ 1.12
Therefore, the standard deviation of the sampling distribution of sample means is 1.12
