The measure represents the standard deviation of the sample means and is used in place of the population standard deviation when the population parameters are unknown is; t-test.
<h3>Which measure is used when the population parameters are unknown?</h3>
A hypothesis test for a population mean when In the case that the population standard deviation, σ, is unknown, carrying out a hypothesis test for the population mean is done in similarly like the population standard deviation is known. A major distinctive property is that unlike the standard normal distribution, the t-test is invoked.
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1x68
2x34
4x17
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Most secured loans are not <u>high-interest</u><u> </u>loans and they are usually backed by collateral.
<h3>What are secured loans?</h3>
Secured loans demand the borrower to dedicate an asset or security as an assurance or collateral for the loan in order to get it.
For example:
- A mortgage on a house or
- An auto loan.
Secured loans are often long-term loans; e.g, the average period of a house loan is 30 years, whereas vehicle loans run 4-5 years.
These kinds of loans are often repaid in monthly installments and have low-interest rates.
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