The Following Values Represent the Population of Home Mortgage Interest

question 104

Multiple Choice

The following values represent the population of home mortgage interest rates (in percents) being charged by the banks in a particular city: Given this information,what is the most extreme amount of sampling error possible if a random sample of n = 4 banks is surveyed and the mean loan rate is calculated?

• A)-0.55 percent
• B)0.52 percent
• C)1.08 percent
• D)Can't be determined without more information.

---

Definitions:

Mutual Rescission

An agreement between all parties to a contract to terminate their respective duties under the contract.

Accord and Satisfaction

A legal agreement between parties to settle a dispute by one party paying a sum less than the amount originally owed and the other accepting it, effectively discharging the original claim.

Obligations

Duties or commitments imposed by law, contract, or moral responsibilities.

Monetary Damages

Compensation awarded to a plaintiff in a lawsuit as a monetary payment for losses or injuries incurred.