Knowing That a Set of Scores Approximates a Normal Distribution

question 62

True/False

Knowing that a set of scores approximates a normal distribution allows us to make probability statements with respect to those scores,given that we know the mean and standard deviation.

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Definitions:

Payments

The act of transferring money or value from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Years

Units of time measuring 365 days (or 366 in a leap year), often used to track age, duration, or periods of investment.

Effective Annual Rate

The interest rate on a loan or financial product restated on an annual basis, accounting for compounding over the term.

Compounded Continuously

The process of calculating interest on an investment or loan where the interest is reinvested and earns additional interest constantly over time.