Solve the Problem

question 172

Multiple Choice

Solve the problem. Round results to the nearest hundredth.
-The mean of a set of data is 108.06 and its standard deviation is 115.45. Find the z score for a value of 489.67.

• A) 3.31
• B) 2.98
• C) 3.61
• D) 3.64

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Definitions:

Effective Rate

The Effective Rate is another term for the Effective Annual Rate, highlighting the true return on an investment or the true interest rate on a loan, after compounding.

Unpaid Balance

The portion of a loan or debt that has not yet been repaid to the lender.

Department Store

A large retail establishment that sells a wide variety of goods in various departments within the same building.

Effective Rate

The actual interest rate an investor receives after taking into consideration compounding.