The Following Data Was Collected from a Simple Random Sample

question 81

Multiple Choice

The following data was collected from a simple random sample of a population. 13 15 14 16 12
The point estimate of the population mean

• A)cannot be determined, since the population size is unknown
• B)is 14
• C)is 4
• D)is 5

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Definitions:

Compounded Monthly

The process of adding interest to a principal sum of money, with the interest that is added also earning interest, occurring on a monthly basis.

Insurance Annuity

A financial product offered by insurance companies that provides regular payments to the holder for a specified period or for life in exchange for an initial investment.

Rate Of Return

The percentage of gain or loss on an investment over a specified period, representing the profitability as a ratio of original investment.

Heirs

Individuals legally entitled to receive a portion or all of a deceased person’s estate under the laws of inheritance.