INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 75

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
The purchase price of the house you are buying is $180,000. A loan-to-value ratio of 90% will produce a mortgage amount of [ $162,000 | $180,000 ].

---

Definitions:

Mean

The average of a set of numbers, obtained by dividing the sum of the numbers in the set by their quantity.

Cumulative Binomial Probabilities

Cumulative binomial probabilities represent the probability of obtaining a certain number of successes or fewer in a fixed number of independent Bernoulli trials.

Approximate Binomial Distribution

Using a normal distribution to estimate the outcomes of a binomial distribution when the sample size is large and the probability of success is neither very small nor very large.

SAT Score

A standardized test score used for college admissions in the United States, reflecting a student's aptitude in areas such as math and evidence-based reading and writing.