TABLE 12-13
According to an Article in Marketing News, Fewer

question 28

True/False

TABLE 12-13
According to an article in Marketing News, fewer checks are being written at grocery store checkout stands than in the past. To determine whether there is a difference in the proportion of shoppers who pay by check among three consecutive years at a 0.05 level of significance, the results of a survey of 500 shoppers in three consecutive years are obtained and presented below.
$$\begin{array}{l}\text {\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad Year }\\\begin{array} { c | c | c | c } \hline \text { Check Written } & \text { Year 1 } & \text { Year 2}& \text { Year 3 } \\\hline \text { Yes } & 225 & 175 & 125 \\\text { No } & 275 & 325 & 375\end{array}\end{array}$$
-Referring to Table 12-13, there is sufficient evidence to conclude that the proportions between year 2 and year 3 are different at a 0.05 level of significance.

Discuss the legal outcomes related to disputes over negotiable instruments.

Describe the significance of endorsements on the status of negotiable instruments.

Understand the concept of negotiability concerning conditional promises and fixed sums.

Understand the concept and implications of express warranties in sales and lease contracts.

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Definitions:

Profit a Prendre

A right to take something (such as minerals, game, or timber) from another's land.

Easement

A right to cross or otherwise use someone else's land for a specified purpose.

House

A structure serving as a dwelling for one or more persons, especially for a family.

True Lease

A lease agreement that qualifies as a genuine lease under applicable law, allowing the lessor to retain ownership and tax benefits of the leased asset.