An investment company advertised that last year its clients, on average, made a profit of 7%. Assuming that average refers to the mean, which of the following claims must be true based on this information?Note: More than one statement could be true. If none of the statements is true, mark the appropriate box. Last year fewer than half of their clients made a profit of 7% or less. Last year at least one of their clients made a profit of 7% or more. Last year at least one of their clients made a profit of exactly 7%. Last year some of their clients made a profit of more than 3%. This year some of their clients will make a profit of at least 7%. None of the above statements are true.

Mean:There are three important measures of central tendency: mean, mode, and median. Mean has…

Answered: An investment company advertised that…

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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An investment company advertised that last year its clients, on average, made a profit of

. Assuming that average refers to the mean, which of the following claims must be true based on this information?

Note: More than one statement could be true. If none of the statements is true, mark the appropriate box.

	Last year fewer than half of their clients made a profit of 7% or less.
	Last year at least one of their clients made a profit of 7% or more.
	Last year at least one of their clients made a profit of exactly 7% .
	Last year some of their clients made a profit of more than 3% .
	This year some of their clients will make a profit of at least 7% .
	None of the above statements are true.