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Consider a Population with Data Values of 12 8 28

question 60

Multiple Choice

Consider a population with data values of 12 8 28 22 12 30 14.
The population standard deviation is the closest to _____.


Definitions:

Auto Insurance

A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident, covering liabilities such as injury and property damage.

Expected Utility

The anticipated satisfaction or benefit received from an outcome, weighted by the probability of different outcomes occurring.

Risk-averse

The preference to avoid risks, favoring safer outcomes over potentially higher but uncertain returns.

Probability

The likelihood or chance of an event occurring.

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