When Data Is Collected Using a Quantitative, Ratio Variable, What

question 99

Multiple Choice

When data is collected using a quantitative, ratio variable, what is true about a frequency distribution that summarizes the data?

• A)Upper and lower class limits must be calculated.
• B)A pie chart can be used to summarize the data.
• C)Number of classes is equal to the number of variable's values.
• D)The "5 to the k rule" can be applieD.

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Definitions:

Present Value

The value today of a sum of money or series of payments expected in the future, adjusted for a certain rate of return.

Interest Rate

The cost of borrowing money or the return on investment, expressed as a percentage of the amount borrowed or invested.

Usury Law

A law that establishes the highest interest rates that lenders can apply to borrowed money.

Loaned Out

Refers to resources or money that has been borrowed out to individuals or entities under an agreement to be repaid, typically with interest, over a certain period.