INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 35

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.
Social Security alone [ will | will not ] provide a comfortable standard of living at retirement.

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Definitions:

Variance

An index of variability in a set of data, established by taking the average squared deviation from the mean.

Tchebysheff's Theorem

A theorem that states for any real numbers k > 1, at least (1-1/k^2) of the data values fall within k standard deviations of the mean for any distribution.

Empirical Rule

A statistical rule stating that for a normally distributed dataset, about 68% of values fall within one standard deviation, 95% within two, and 99.7% within three standard deviations from the mean.

Tchebysheff's Theorem

A mathematical formula that determines the minimum proportion of values that lie within a specified number of standard deviations from the mean, for any distribution.