The Average Age of a Vehicle Registered in Canada Is

question 72

Multiple Choice

The average age of a vehicle registered in Canada is about 100 months. If a random sample of 36 vehicles is selected, find the probability that the mean of their age is between 102 and 104 months? Assume the
Standard deviation for the population is 15.

• A) 66.67%
• B) 15.71%
• C) 63.47%
• D) 75.82%

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Definitions:

Short Sales

The selling of a security that is not owned by the seller, with the intention of buying it back later at a lower price.

Maintenance Margin

The minimum amount of equity that must be maintained in a margin account after a purchase has been made, to ensure account stability against market fluctuations.

Margin Loan

A loan from a brokerage firm that allows investors to borrow money to buy securities, using the securities as collateral.

Margin Call

A requirement from a broker for an investor to add more cash or securities in their account to mitigate potential losses.