David Is Saving $25 a Week Toward Getting a New

question 79

Multiple Choice

David is saving $25 a week toward getting a new truck.Which function of money does this illustrate?

• A) stabilization of value
• B) foundation of banking
• C) medium of exchange
• D) store of value
• E) measure of worth

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Definitions:

Sampling Error

The difference between a population parameter and a sample statistic that results from selecting a sample.

Expected Value

The predicted average outcome of a random variable, computed as the weighted average of all possible values.

Stratified Random Sampling

A probability sampling method in which the population is first divided into strata and a simple random sample is then taken from each stratum.

Strata

Subsets of a population that are known to be homogeneous with respect to some characteristic, used in stratified sampling.