Wayne and Sarah Are Trying to Manage the Risk They

question 12

Multiple Choice

Wayne and Sarah are trying to manage the risk they face in life a best as they can.They are following Principle 7 which states

• A)the best protection is knowledge.
• B)protect yourself against major catastrophes.
• C)nothing happens without a plan.
• D)diversification reduces risk.
• E)the best insurance is prevention.

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Definitions:

Standard Deviation

A statistical measure that represents the dispersion or variability of a set of data points around their mean.

Sample Size

Refers to the number of observations or elements selected from a population for the purpose of statistical analysis.

Population Standard Deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence Interval

A set of numerical outcomes, sourced from gathering samples, anticipated to hold the measure of a not yet known population parameter.