Lynn Works for a State University

question 7

Multiple Choice

Lynn works for a state university. In addition to the university's regular retirement plan, Lynn participates in another retirement savings plan. She elected to have $5,000 of her salary withheld and contributed to a tax-sheltered annuity with an insurer. The type of plan that Lynn established is called a

• A) SIMPLE plan.
• B) 403(b) plan.
• C) defined benefit plan.
• D) Keogh plan.

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Definitions:

Race Car Driver

An individual who competes in race car driving competitions, operating fast cars on various race tracks.

Test Statistic

A value calculated from sample data during a hypothesis test that is used to decide whether to reject the null hypothesis.

Sample Information

Data collected from a subset of a larger population, used to make inferences about the population.

T-Distribution

A type of probability distribution that is symmetric and bell-shaped, but with heavier tails than a normal distribution, used especially in statistics for small sample sizes.