If You Made a Down Payment of $11,000 on a House

question 20

Multiple Choice

If you made a down payment of $11,000 on a house worth $110,000, the lenders will require _____ because of the size of the down payment.

• A)closing points
• B)a bond
• C)private mortgage insurance
• D)application fees
• E)homeowner's insurance

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Definitions:

T-distribution

A probability distribution that is used to estimate population parameters when the sample size is small and the population standard deviation is unknown.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically calculated as the sample size minus the number of parameters estimated.

Basic Training

An initial training program designed to induct new recruits into the military, covering physical fitness, discipline, and the fundamentals of military life.

Paired-difference Design

A design in statistical experiments where the differences within each pair of matched subjects are analyzed to determine the effect of the treatment.