The Table Below Shows Hypothetical Tuition Costs at a Canadian

question 3

Multiple Choice

The table below shows hypothetical tuition costs at a Canadian university.
TABLE 2-1
-Refer to Table 2-1.Assume that 2014 is used as the base year,with the index number = 100.The value of the index number in 2012 is calculated as follows:

• A)5000/5100 = 0.98.
• B)(5100/5000)× 100 = 102.
• C)5100/5000 = 1.02.
• D)5100/5100 = 100.
• E)(5000/5100)× 100 = 98.

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Definitions:

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states and is based on a set number of trials.

Symmetric

A property of shapes, equations, or other objects that indicates two halves are mirror images of each other across a central line or point.

Daily Sales

The total revenue or number of items sold by a business during a single day.

Poisson Distribution

A probability distribution that measures the probability of a given number of events happening in a fixed interval of time or space, assuming events occur with a known constant mean rate and independently of the time since the last event.