Which One of the Following Statements Is Correct If You

question 271

Multiple Choice

Which one of the following statements is correct if you purchase an item with credit terms of 2/5, net 15?

• A) If you pay within two days, you will receive a 5 percent discount.
• B) If you pay within 2 to 5 days, you will receive a 15 percent discount.
• C) If you do not pay within 5 days, you will be charged interest at a 15 percent annual rate.
• D) If you pay within 5 days, you will receive a 2 percent discount.
• E) You must pay the discounted amount within 15 days.

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Definitions:

Ordinal

A term referring to a type of data or a scale of measurement where items are ranked in order but the differences between rank positions are not necessarily equidistant.

Partial Correlation

A measure of the degree of association between two variables while holding one or more other variables constant.

Third Variable

An unmeasured variable that may influence or confound the relationship between the two variables of interest in a study.

Spearman Rank

An assessment of rank correlation that doesn't rely on parametric assumptions, used to evaluate how effectively a monotonic function can represent the association between two variables.