Random Samples of Size 400 Are Taken from an Infinite

question 112

Multiple Choice

Random samples of size 400 are taken from an infinite population whose population proportion is 0.2. The mean and standard deviation of the sample proportion are

• A) 0.2 and .04.
• B) 0.2 and 0.02.
• C) 20 and .04.
• D) 20 and 0.02.

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Definitions:

Vicarious Performance

Vicarious performance refers to situations where a third party performs contractual duties on behalf of one of the original parties involved in the contract.

Novation

The act of replacing one obligation with another by mutual agreement between all parties involved, essentially creating a new contract while cancelling the old one.

Right of Recovery

The legal ability to reclaim goods or compensation under the terms of an agreement or through legal proceedings.

Trustee

A person licensed to receive and dispose of the assets of a bankrupt, then distribute the proceeds to the creditors.