In a Simple Random Sample

question 27

Multiple Choice

In a simple random sample

• A)every member of the population has an equal chance of being selected.
• B)the population is approximately normal with the mean,median,and mode being approximately equal.
• C)the mean is equal to the mode.
• D)the mean of N is always equal to the standard deviation.

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Definitions:

Time Value

The idea that money currently in hand is valued higher than an identical sum to be received in the future because of its ability to generate earnings.

Present Value

The present value of a sum of money to be received in the future, or a series of future cash flows, calculated using an agreed-upon rate of return.

Earnings Rate

The rate at which a company or investment generates income, typically expressed as a percentage of the investment or capital.

Compound Interest

Interest calculated on the initial principal and also on the accumulated interest from previous periods.