How Many Simple Random Samples of Size 3 Can Be

question 129

Multiple Choice

How many simple random samples of size 3 can be selected from a population of size 7?

• A)7
• B)21
• C)35
• D)343

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Definitions:

Federal Funds Rate

The interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight.

Inflation Rate

The percentage change in the price level of goods and services in an economy over a given period of time.

Prime Interest Rate

The interest rate that commercial banks charge their most creditworthy customers, often used as a benchmark in lending rates.

Equation of Exchange

An economic formula representing the relationship between the supply of money in an economy and the level of prices of goods and services, expressed as M*V = P*T.