An Investment company advertised that last year Its clients, on average, made a profit of 10%. Assuming that averagerefers to the mean, which of the following clalms 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.This year at least one of their clients will make a profit of atleast 10%.Last year all of their clients made a profit of more than 3%.Last year more than half of their clients made a profit of atleast 10%.OLast year some of their clients made a profit of at least 10%.Last year some of their clients made a profit of exactly 10%.None of the above statements is true.

Mean means the average value in a collection of numbers. It is also known as the expected value.…

Answered: refers to the mean,

Business

Finance

refers to the mean,

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter14: Capital Structure Management In Practice

Section: Chapter Questions

Problem 28P

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