Examlex
Suppose data was collected from ten women and twelve men about the length in minutes of their commute to work. The histogram for men was roughly normal, but the histogram for women was strongly skewed to the right. Explain why the t- test is not appropriate to test whether men and women have different commute times.
Novation
In a contract, the substitution of a third party for one of the original parties; the duties remain the same under the contract, but one original party is discharged and the third party takes that original party’s place.
Substituted Contract
An agreement between the contracting parties to replace an existing contract with a new one, possibly altering terms or obligations.
Punitive Damages
Financial compensation awarded in a lawsuit intended to punish the defendant for especially harmful behavior and deter future misconduct.
Liquidated Damages
A predetermined sum of money agreed upon by the parties in a contract to be paid as compensation if one party breaches the contract.
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