When the Consumer Credit Protection Act Was Passed in 1968

question 164

Multiple Choice

When the Consumer Credit Protection Act was passed in 1968 there was about ____ worth of consumer credit outstanding.

• A) $100 billion
• B) $300 billion
• C) $1 trillion
• D) $2.5 trillion
• E) $5 trillion

---

Definitions:

Statistic

A characteristic or measure obtained from a sample of data, used to estimate the value of a population parameter.

Variance

A measure of how spread out a set of data is, calculated as the average of the squared differences from the Mean.

Variance

A statistical measure that tells us how dispersed or spread out the values in a dataset are around the mean.

Outliers

Data points that are significantly different from the majority of points in a data set, which could indicate a measurement error or a novelty within the data.