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Kent and Kirsten are both trying to reduce their consumer debt. Kent decides to pay the highest-interest debts first and freeze credit-card spending. Kirsten simply pays her largest debt first, because this would seem to be the fastest way to move her debt as close to zero as possible. Kent's plan reflects the problem-solving strategy of _____. Kirsten's method illustrates the strategy of _____.
Z Score
A statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations.
Mean
The average of a set of numbers, calculated by adding all the numbers together and then dividing by the count of the numbers.
Inferential Statistics
Involves making predictions or inferences about a population based on a sample of data.
Probability
A measure of the likelihood that a particular event will occur, usually expressed as a number between 0 and 1.
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