If a Store Manager Selected a Sample of Customers and Computed

question 43

Multiple Choice

If a store manager selected a sample of customers and computed the mean income for this sample, he has computed:

• A) a parameter
• B) a statistic
• C) a qualitative value
• D) all of these
• E) none of these

---

Definitions:

Amortized Loan

A loan with scheduled periodic payments that cover both principal and interest over the loan's term until it is paid off at maturity.

Monthly Mortgage Payment

The amount paid by a borrower to a lender each month, which includes principal and interest on a mortgage loan.

Borrowed

Borrowed refers to funds or items taken on loan from another party, which are expected to be returned or paid back under agreed-upon conditions.

Amortized

The process of spreading out a loan or debt into a series of fixed payments over time, gradually reducing the balance.