When the Due Date of a Note Is Stated in Months

question 88

True/False

When the due date of a note is stated in months the time factor in computing interest is the number of months divided by 360 days.

---

Definitions:

Straight Line

In mathematics and statistics, a linear relationship or function that can be graphically represented as a straight line in Cartesian coordinates.

Correlation Coefficient

A statistical measure ranging from -1 to 1 that indicates the strength and direction of the linear relationship between two variables.

Scatterplot

A graphical representation of individual data points plotted on a two-dimensional plane, often used to observe and analyze the relationship between two variables.

Least Squares Regression Line

A straight line that best fits the data on a scatter plot, minimizing the sum of the squares of the vertical distances of the points from the line.