When Obtaining a Mortgage You Should

question 68

Multiple Choice

When obtaining a mortgage you should

• A)apply for the maximum amount you can afford,since the house will be an appreciating asset.
• B)let a realtor or some other expert choose the type and length of mortgage you will need.
• C)maintain some funds for liquidity purposes to cover unanticipated bills.
• D)be very conservative and apply only for a mortgage amount you can pay off within 10 years.

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Definitions:

Population Mean

The average value of all individuals in a population.

Margin of Error

A measure of the accuracy of a poll or survey, reflecting the extent to which the results could differ from the true population value.

Point Estimate

A single value or statistic that serves as the best guess or estimate of a population parameter.

Population Mean

Population mean is the average value of all elements in a complete set or population.