Statistics Are Used to Estimate Population Parameters, Particularly When It

question 98

Multiple Choice

Statistics are used to estimate population parameters, particularly when it is impossible or too expensive to poll an entire population. A particular value of a statistic is referred to as a(n) ________.

• A) mean
• B) stratum
• C) estimate
• D) finite correction factor

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Definitions:

Ordinary Course of Business

Activities and operations that are considered normal, routine, and customary for a particular business or industry.

Void Title

A legal situation where title or ownership of an asset or property is deemed invalid due to certain defects or illegitimacy in the acquisition process.

Good Title

A legal term signifying that an owner has rightful ownership of property without any encumbrances such as liens or disputes.

Insurable Interests

A stake or financial interest in something that warrants purchasing insurance to protect against losses or damages to that entity or item.