Mike Works as a Bartender at a Local Bar

question 40

Multiple Choice

Mike works as a bartender at a local bar.Under state law,bartenders are required to be licensed.The licensing requires the completion of an application and the submission of a $50.00 application fee.The application does not require any special education,training or experience,just the payment of the fee.Kathy enters Mike's bar and orders a round of drinks for the house.She then notices that Mike's license is not on display behind the bar.Kathy learns that Mike is not licensed and refuses to pay for the round of drinks.If the bar sues,what will be the result?

• A) Since this is an illegal contract, the courts will not enforce it.
• B) Since Mike violated a regulatory license requirement, the contract is unenforceable.
• C) Since this is a revenue-producing statute, the bar wins.
• D) Since this is a revenue-producing statute, the licensing law is illegal because it has no legitimate requirements, so Kathy wins.
• E) Kathy wins because dram shop laws require bartenders to have special training and obtain a regulatory license.

Calculate the test statistic for given data sets and determine the decision regarding hypotheses based on critical values or p-values.

Understand the relationship between the level of significance, power of the test, and the probabilities of committing Type I and Type II errors.

Understand the concepts and calculation methods for confidence intervals and bounds for population means and proportions.

Calculate sample sizes needed for estimating population means and proportions with given margins of error and confidence levels.

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Definitions:

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay the loan.

Inadequate

Lacking the quality or quantity required; insufficient for a purpose.