The Mode Can Be a Poor Representative Value Because

question 14

Multiple Choice

The mode can be a poor representative value because:

• A)it can be difficult to calculate without a statistical software package
• B)it does not reflect many aspects of the distribution
• C)it is generally larger than the mean
• D)all of the above

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Definitions:

Mortgagee's Claim

A claim made by the lender or mortgage holder for payment of the outstanding loan balance from the proceeds of a foreclosure sale.

Due On Sale Clause

A provision in a mortgage allowing the lender to demand full repayment if the property is sold.

Mortgage

A mortgage is a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the borrower's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Remaining Balance

The total amount still owed on a debt or loan, not including current or future interest.