Explain the Purpose/benefits in Adding a Credit-Scoring Model to Evaluate

question 21

Essay

Explain the purpose/benefits in adding a credit-scoring model to evaluate a loan application.

---

Definitions:

Nucleic Acids

Biochemical compounds that serve as the blueprint for proteins and, through their sequencing of nucleotides, carry genetic information in cells.

Major Component

A principal part or element of a larger system, essential for its functioning or structure.

Gross Primary Production

The total amount of chemical energy generated by plants through photosynthesis before any energy is used for life processes like respiration.

Respiration

The process by which living organisms take in oxygen and release carbon dioxide, fundamental for energy production.