Refer to the Information Provided in Scenario 22

question 58

Multiple Choice

Refer to the information provided in Scenario 22.6 below to answer the question(s) that follow.
SCENARIO 22.6: Following is information pertaining to four surveys:
Survey 1: 50 pre-law students at Vanderbilt University are surveyed for a study to see if taking an LSAT preparation course was effective in improving their chance of being admitted to law school.
Survey 2: 600 newly hired Houston-area elementary school teachers are surveyed for a study to determine how much salary they were willing to sacrifice to get a job teaching in a school with a high-quality reputation.
Survey 3: 950 people are surveyed 6 months after buying a new car for a study to see how satisfied they are with their purchase.
Survey 4: 75 people are surveyed in front of 5 different casinos on the Las Vegas Strip fo a study to determine the average daily gambling budget of a Las Vegas visitor.
-Refer to Scenario 22.6. Of the four surveys, which is likely to be the least statistically significant?

• A) Survey 1
• B) Survey 2
• C) Survey 3
• D) Survey 4

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Definitions:

Security Interest

A legal claim or lien on assets which secures the performance of an obligation, usually repayment of a loan.

Present and After-Acquired Equipment

Refers to a security interest in equipment that a borrower currently owns and any equipment they will acquire in the future.

Unperfected

A legal term describing a security interest or lien that has not been properly filed or recorded, and therefore does not have priority over claims made by other creditors.

Financing Statement

A document filed to give public notice of a security interest in personal property, thereby protecting the interests of secured creditors.