To find the class midpoint of the FICO score interval 550-599, follow these steps:
1. Identify the lower bound and the upper bound of the class interval. In this case, the lower bound is 550 and the upper bound is 599.
2. Calculate the midpoint by using the formula for the class midpoint, which is:
[tex]\[
\text{Midpoint} = \frac{\text{Lower Bound} + \text{Upper Bound}}{2}
\][/tex]
3. Substituting the values into the formula:
[tex]\[
\text{Midpoint} = \frac{550 + 599}{2}
\][/tex]
[tex]\[
\text{Midpoint} = \frac{1149}{2}
\][/tex]
[tex]\[
\text{Midpoint} = 574.5
\][/tex]
So, the class midpoint of the FICO score interval 550-599 is 574.5. The correct answer is 574.5.
