If You Put $250 into an Account with a 4

question 172

Multiple Choice

If you put $250 into an account with a 4 percent interest rate,how many years would you have to wait to have $432.92?

• A)10
• B)14
• C)17
• D)20

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Definitions:

Sampling Distribution

The distribution of a statistic (like the mean or proportion) derived from a large number of samples of the same size drawn from the same population.

Standard Error

The standard deviation of the sampling distribution of a statistic, mostly used to measure the accuracy of a sample's mean.

Population Standard Deviation

A measure of the dispersion or variability of a set of data points in a population, quantifying how much the data points differ from the population mean.

Simple Random Sampling

A sampling method in which each member of a population has an equal chance of being selected.