When Approximating the Mean or Standard Deviation from a Frequency

question 78

Short Answer

When approximating the mean or standard deviation from a frequency distribution,each observation is considered to be located at the ____________________ of its class.

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services delivered on credit.

Compensating Balance

A minimum balance that must be maintained in a bank account, often required by banks in return for loans or as part of a service agreement.

Effective Interest Rate

The actual interest rate on a loan or investment, taking into account the effect of compounding, fees, and other factors, more accurately reflecting the true cost or yield than the nominal rate.

Quoted Interest Rate

The interest rate that a lender provides to a borrower, usually expressed as an annual percentage of the loan amount.