The Automated Clearing House (ACH)

question 4

Multiple Choice

The Automated Clearing House (ACH)

• A) arranges for checks to be cleared.
• B) serves as an accounting system for credit cards.
• C) provides a mechanism for banks to transfer money directly to a firms' suppliers or employees.
• D) is a system for making large-value international cash payments.

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Definitions:

Population Parameter

A numerical value summarizing the whole population.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Population Mean

The average value of all the elements in a population.

Interval Estimators

Statistic-based range estimates used to infer the value of a population parameter, providing an interval believed to contain the parameter.