Barry Presents to Wake Bank for Deposit in His Account

question 10

Multiple Choice

Barry presents to Wake Bank for deposit in his account a check for $100 made out to him by Richard. Wake Bank provisionally credits Barry's account on Monday. When is payment final?

• A) Automatically at the end of the third business day.
• B) Midnight Tuesday.
• C) When the amount of the check is collected from Richard's bank.
• D) When Richard's bank receives the check.

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Definitions:

Normal Populations

Refers to populations that follow a bell-shaped distribution curve, indicating a normal distribution of data.

Variance

A measure of variability that indicates the average squared deviation of each number from the mean of a data set, showing how spread out the data points are.

Significance Level

The threshold below which the p-value of test results must fall for the results to be considered statistically significant, typically denoted by alpha (α).

Normal Populations

Populations that follow a normal distribution, characterized by symmetrical bell-shaped curves where mean, median, and mode are equal.