Which Option Is Designed for Long-Term Credit

question 24

Multiple Choice

Which option is designed for long-term credit?

• A)Credit cards
• B)Instalment accounts
• C)Open charge accounts
• D)Revolving charge accounts

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Definitions:

Variance

A measure of how much the values in a dataset vary or deviate from the mean, technically the average of the squared differences from the Mean.

Coefficient of Variation

A normalized measure of the dispersion of a probability distribution or frequency distribution, often expressed as a percentage.

Standard Deviation

A metric that quantifies the spread of a dataset around its mean, computed as the square root of the variance.

Variability

A measure of how spread out or dispersed the scores in a dataset are.