The Banker's Rule Simplifies Interest Computations by Treating a Year

question 146

True/False

The banker's rule simplifies interest computations by treating a year as having 360 days.

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Definitions:

Drilling Down

A method in data analysis where you move from summary information to more detailed data.

Root-cause Analysis

A method of problem solving that aims to identify the fundamental reasons for faults or problems.

Data Trimming

The procedure of removing extreme values from data to mitigate their effect on the analysis.

Weighted Average

An average that takes into account the relative importance or weight of each value in the data set.