Implied Authority Is the Authority That the Third Party May

question 134

True/False

Implied authority is the authority that the third party may reasonably assume the agent possesses.

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Definitions:

Likelihood

The probability of a set of data or observed outcomes given a particular model or hypothesis.

Tossed

A term often used to describe the throwing of an object, such as a coin or a dice, in the context of chance or randomness.

Relative Frequency

The ratio of the number of times a particular value occurs to the total number of observations.

Probabilities

Measures of the chance or likelihood that certain events or outcomes will occur, represented quantitatively.