The Professor of a Business Statistics Class Wanted to Find

question 6

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 students into the left, right, and center groups according to the location they sat in the class that day. One of these three groups was randomly selected and everyone in the group was asked the mean amount of time per week he/she spent studying for the class. This is an example of a cluster sample.

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Definitions:

Investment

Investment involves allocating resources, usually financial, with the expectation of generating an income or profit, often through the purchase of assets designed to grow in value over time.

Interest Rate

The proportion, usually expressed as a percentage, of a loan that is charged as interest to the borrower, typically expressed on an annual basis.

Interest Rate

The percentage at which interest is charged or paid on a sum of money over a period, typically expressed as an annual percentage rate.

Investment

The allocation of resources, usually financial, into assets or projects expected to yield future returns.