In Conjunction with the Housing Foreclosure Crisis of 2009, Many

question 104

Multiple Choice

In conjunction with the housing foreclosure crisis of 2009, many economists expressed increasing concern about the level of credit card debt and efforts of banks to raise interest rates on these cards. The banks claimed the increases were justified. A Senate subcommittee decided to determine if the average credit card balance depends on the type of credit card used. Under consideration are Visa, MasterCard, Discover, and American Express. The sample sizes to be used for each level are 25, 25, 26, and 23, respectively. State the number of degrees of freedom available for determining the within-samples variation.

• A) 93
• B) 95
• C) 97
• D) 98

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Definitions:

Cultural Relativists

Individuals or scholars who argue that beliefs, values, and practices should be understood based on their own cultural context, rather than judged against another standard.

Supernatural

Pertaining to entities, forces, or phenomena that are beyond the laws of nature and cannot be explained by scientific understanding.

Sociological

Pertains to the study of the development, structure, and functioning of human society.

Psychological

Pertaining to the mind or to mental states and processes; relating to psychology.