The Following Table Shows Data for Total Assets ($ Billion)

question 7

Multiple Choice

The following table shows data for total assets ($ billion) for a small sample of U.S.banks
(late 2013) . $$\begin{array} { | l | c | } \hline { \text { BANK } } & \text { ASSETS (\$ billion) } \\\hline \text { State Street Bank and Trust } & 160.5 \\\hline \text { Discover Bank } & 63.9 \\\hline \text { BancWest } & 72.8 \\\hline \text { Citizens Bank } & 130.0 \\\hline \text { Northern Trust } & 83.8 \\\hline \text { Huntington Bank } & 53.8 \\\hline \text { Key Bank } & 91.8 \\\hline \text { People's United } & 27.9 \\\hline\end{array}$$
The mean for the total assets data ($ billion) is

• A)$78.3.
• B)$56.3.
• C)$85.6.
• D)$120.5.
• E)$42.4.

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Definitions:

Fiat Money

Currency that a government has declared to be legal tender, despite it having no intrinsic value or being backed by a physical commodity.

Liability

A legal financial obligation or debt that an entity owes to another entity, required to be settled through the transfer of assets, provision of services, or other financial settlement.

Federal Reserve Note

The official paper currency of the United States, issued by the Federal Reserve, and the most common form of U.S. banknotes in circulation.

Token Money

Money whose face value exceeds its cost of production, typically involving coins and paper money not backed by a commodity.