Regarding a Certificate of Deposit

question 143

Multiple Choice

Regarding a certificate of deposit:

• A) the financial institution is the drawee.
• B) the financial institution is the drawer.
• C) the financial institution is the payee.
• D) the financial institution is the maker.
• E) there is no financial institution involved with a certificate of deposit

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Definitions:

Estimation

The process of finding an approximate value of some parameter—such as a mean or proportion—of a population, based on random sample data.

Population Parameters

Numeric values that summarize and describe characteristics of an entire population, such as mean, variance, or proportion.

Sample Statistics

Refers to the numerical data collected from a subset of a population, used to estimate the characteristics of that entire population.

Estimator

A rule or method for estimating a parameter from sample data.