In Comparing a Sampling Distribution with a Population Distribution

question 10

Multiple Choice

In comparing a sampling distribution with a population distribution,

• A)there will always be more variance in the sampling distribution.
• B)there will always be more variance in the population distribution.
• C)as the size of the sample increases the two distributions will become identical.
• D)the two distributions will always be the same.

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Definitions:

Reasonable Person Test

A legal standard used to determine what a typical, prudent person would have done in similar circumstances, applied in various legal contexts.

Surety Bond

Insurance arranged in case a party to a contract fails to perform.

Contract Performance

The carrying out of the duties and obligations as stipulated in a contract by the involved parties.

Subrogation Right

The right for an insurer to pursue a third party that caused an insurance loss to the insured, in order to recover the amount of the claim paid.