Wise Users of Credit Have a No-Annual-Fee Card for Convenience

question 72

True/False

Wise users of credit have a no-annual-fee card for convenience purchases and a low-APR card for purchases where they carry a balance.

---

Definitions:

Rule of 5

An empirical rule suggesting that a sample of size five is often sufficient for capturing the median of a population, specifically under conditions reflected in the five-number summary.

Independent Events

Two or more events whose occurrence or outcome does not affect one another.

Multinomial Experiment

An experiment consisting of a fixed number of trials where each trial has multiple possible outcomes and the trials are independent.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between certain characteristics or parameters of a population or dataset.