Al Resse and Marci Rey Received a Total of $210,000

question 16

Multiple Choice

Al Resse and Marci Rey received a total of $210,000 from a deceased relative's estate. They decided to put away $50,000 in a trust for their child and divide the remainder into 1/4 for Marci and for 3/4 Al. How much will Al receive?

• A)$40,000
• B)$120,000
• C)$32,000
• D)$10,000
• E)None of these

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Definitions:

Random Sample

A random sample is a subset of individuals chosen from a larger set, where each individual has an equal chance of being selected.

Checking Account Balance

The amount of money currently available in someone's checking account.

Confidence Interval

A range of values, derived from the statistics of observed data, that is believed to contain the true value of an unknown parameter with a certain probability.

Credit Union

A member-owned financial cooperative that provides traditional banking services like savings and loan facilities to its members.