To Find the Average Amount Paid Amount for a Client

question 64

Multiple Choice

To find the average amount paid amount for a client, select _____ as the entry in the Total row for the Amount Paid column.

• A)AVG
• B)Average
• C)VAR
• D)Median

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Definitions:

Analysis of Variance

A statistical method used to compare the means of three or more samples to find out if at least one is significantly different from the others.

Population Means

The average value of a particular characteristic across all members of a defined population.

Independent Random Sampling

A method of sampling where each member of the subset is chosen randomly and entirely by chance, ensuring that every subset of the population has an equal opportunity of selection.

Pooled Estimator

A method to estimate a common mean or variance from several different populations by combining or pooling sample statistics.