For the Following Seven Questions, Use the Following Bank Balance

question 40

Multiple Choice

For the following seven questions, use the following bank balance sheet. Values are millions of dollars.

-If $100 in transaction deposits were withdrawn, what is the minimum amount the bank would have to borrow to meet the reserve requirement, if there were no other changes to the balance sheet?

• A) $30
• B) $50
• C) $80
• D) $100

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Definitions:

Mean

A statistical measure representing the average value of a set of numbers, calculated by dividing the sum of all values by the number of values.

Median

A statistical measure representing the middle value in a data set, where half the numbers are above and half are below.

Mode

Can refer to a manner of doing something, a specific condition of operation, or the most frequently occurring value in a set of data.

Sampling

The process of selecting a subset of individuals, items, or data from a larger population to estimate characteristics of the whole population.