The Federal Reserve System Was Established in 1913 in Response

question 224

Multiple Choice

The Federal Reserve System was established in 1913 in response to the

• A) First World War.
• B) bank panic of 1907.
• C) depression of 1883.
• D) prosperity of the 1920s.

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Definitions:

Variability

The measure of how much data points in a set diverge from the average or mean value, indicating the spread or dispersion of the dataset.

Standard Deviation

A measure that is used to quantify the amount of variation or dispersion of a set of data values.

Standard Error

The typical variability or spread in the sampling distribution of a statistic, most commonly the mean, is referred to as the standard deviation.

T-statistic

The t-statistic is a ratio calculated from the difference between a sample mean and a population mean, divided by the standard error of the mean.