Determine the price of a $200,000 bond issue under each of the following independent assumptions:
Definitions:
Grade Equivalent
A measure indicating the school grade level of students to whom a test taker's performance is most similar.
Achievement Test
A type of ability test that measures what one has learned. Types of achievement tests include survey battery tests, diagnostic tests, and readiness tests.
Percentiles
A measure that indicates the value below which a given percentage of observations in a group of observations falls.
Stanines
Derived from the term “standard nines,” this is a standardized score frequently used in schools. Often used with achievement tests, stanines have a mean of 5 and a standard deviation of 2, and range from 1 to 9.
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