The Professor of a Business Statistics Class Wanted to Find

question 173

True/False

The professor of a business statistics class wanted to find out the mean amount of time per week her students spent studying for the class.She divided the fifty students on her roster into ten groups starting from the first student on the roster.The first student was randomly selected from the first group.Then every tenth student was selected from the remaining students.This is an example of a cluster sample.

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Definitions:

Financial Institution

An organization that provides financial services to its clients or members, including banks, credit unions, insurance companies, and investment firms.

Prepayment Penalty Clause

A provision in a mortgage loan contract that requires the borrower to pay a penalty if the mortgage is repaid in full within a certain period.

Lender

An individual or institution that provides funds to another with the expectation that the funds will be repaid, typically with interest.

Mechanic's Lien

A security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.