When a Contract Is Frustrated This Means That the Parties

question 10

Multiple Choice

When a contract is frustrated this means that the parties:

• A)cannot agree on adequate consideration for their contractual promises.
• B)have suffered a communication breakdown.
• C)cannot complete the contract because of circumstances outside their control.
• D)have chosen not to complete the contract.

---

Definitions:

Estimator's Squared Bias

The squared difference between an estimator's expected value and the true value of the parameter being estimated.

Variance

The average of the squared differences from the Mean, measuring the spread between numbers in a data set.

Point Estimate

A single value or statistic that serves as the best guess or most probable value of an unknown population parameter.

Population Parameter

A numerical value that summarizes a characteristic of an entire population.