Time Value of Money takes into account the present and future value of money when there is opportunity cost in the economy. Opportunity cost include the returns you would have gotten if you have invested the money somewhere else rather than keeping it under your bed. For instance, if I put $1000 into Bank A that offers …
SHORT ANSWER QUESTIONS: 1) Your friend is celebrating his 35th birthday today and wants to start saving for his anticipated retirement at age 65. He wants to be able to withdraw $10,000 from his savings account on each birthday for 10 years following his retirement; the first withdrawal will be on his 66th birthday. Your …
There are 4 main types of annuities: Ordinary annuities An ordinary annuity is a series of constant cash flows that occur at the end of each period for some fixed number of periods commencing at the end of the first period ie t=1Examples include consumer loans and home mortgages. Annuities due An annuity due is …
1. Integrity· Be straightforward, honest and sincere in your approach to professional work. 2. Objectivity· Not to compromise their professional or business judgment because of bias, conflict of interest or the undue influence of others.· Be fair and do not allow prejudice, conflict of interest or bias to override your objectivity. 3. Competence …
Normal Distribution When the mean is equal to the median and mode, the sampling distribution is deemed to be normally distributed. Positively Skewed or Right Skewed When the mean is more than the median, most of the data is concentrated on the left and hence the data is skewed towards the right. Negatively Skewed or Left …
1. Consists of N identical trailse.g. Throw a dice 20 times 2. Consists of 2 mutually exclusive outcomese.g. head or tail, defective or not defective, success or failureProbability of success is p, probability of failure is 1 – p (which can also be expressed as q) 3. Consists of constant probability for each observation e.g., …
Normal Distribution‘s Characteristics: 1) Symmetrical about the mean (median and mode) a. The mean divides the distribution in two where 50% of the distribution lies below the mean and 50% lies above the mean b. The probability that a score falls below the mean is 50% c. The probability that a score falls above …
In order for you to compare the scores between sampling distributions you will need to standardize the scores. Imagine telling your friend that you have scored 90 for your finance and 60 for you statistics, your friend would naturally think you are a lot stronger in your finance. However, if the average marks in the …
What is the difference between parameters and statistics? Parameters are used to describe populationStatistics are used to describe sample Examples of Parameters 1. Population mean = μ2. Population Standard deviation = σ3. Population size = N Examples of Statistics 1. Sample mean = X2. Sample standard deviation = s3. Sample Size = n SMS 9758-7925 or …
Sampling distribution is: A distribution that results from taking repeated samples from the same population and calculating the statistic (mean and standard deviation) on each sample and then plot them into a distribution Picture Credit: Social Research Methods Read more about:What is skewed distribution? Having problem with you statistics? SMS 9758-7925 or email enquiry@starcresto.com for business statistics tuition, psychology statistics tuition, statistics tuition =)