The Term Used to Define a Set of Tools and Techniques

question 37

Multiple Choice

The term used to define a set of tools and techniques describing,organizing,and interpreting data is ______.

• A)inference
• B)population
• C)sample
• D)statistics

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Definitions:

Functions of Money

Money serves as a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.

Fractional Reserve Banking

A banking system in which banks keep a fraction of deposits as reserves and use the remainder for loans.

Bank Liabilities

Financial obligations owed by a bank to its depositors, creditors, and other parties.

Bank Assets

Resources owned by a bank, including loans, securities, cash, and property, that have economic value and can be used to meet its liabilities.