Explain What an Efficiency Rating Is

question 2

Essay

Explain what an efficiency rating is. You may use an example to explain this concept. Do comparable parametric or nonparametric tests have higher efficiency ratings?

---

Definitions:

Antagonize

To annoy; to arouse opposition.

Truth in Lending Act

A United States federal law designed to promote the informed use of consumer credit, requiring disclosures about its terms and cost.

Closed-end Credit

A type of loan where a borrower receives a fixed amount of money to be repaid with interest by a specified date or in installments.