A Direct Loan for Personal Purposes, Home Improvements, or Vacation

question 62

Multiple Choice

A direct loan for personal purposes, home improvements, or vacation expenses is called

• A) A credit card.
• B) An installment cash credit.
• C) A bank line of credit.
• D) Open-end credit.
• E) Single lump-sum credit.

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Definitions:

Representative Sample

A subset of a population that accurately reflects the members of the entire population, used in statistical analysis.

Skewed Distribution

A type of distribution in which data points are not evenly distributed around the mean, leading to a longer tail on one side of the distribution.

Longitudinal Study

A research design that involves repeated observations of the same variables (such as people) over short or long periods of time, sometimes lasting many years.

Cross-Sectional Study

A research method that examines data from a population at a single point in time to identify patterns and correlations.