Sharon Had a Net Worth at the Beginning of the Year

question 56

Multiple Choice

Sharon had a net worth at the beginning of the year of $22 000 and she saved $1000,earning 3 percent for one year.During the year she saved $50 each week from her pay cheque in a no-interest chequing account.How much is her net worth at the end of the year?

• A)$25 000
• B)$25 630
• C)$25 600
• D)$23 030

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Definitions:

Region of Rejection

The range of values in a statistical test that leads to the rejection of the null hypothesis, indicating a statistically significant result.

Statistic

A single measure, reported as a number, used to summarize a set of data.

Null Hypothesis

The hypothesis that there is no significant difference or effect, typically the hypothesis a researcher tries to disprove.

Distribution

Describes how the values of a variable are spread or distributed across different categories or intervals.