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Table 22-2
Three longtime friends-Stephanie, Stella, and Lydia-are deciding how they will spend their Sunday afternoon. They all agree that they should do one of the three things: go to a play, play baseball, or go to a soccer game. They also agree that they will have two pairwise votes to determine how to spend their afternoon, with the majority determining the outcome on each vote. The first, second, and third choices for each person are as indicated in the following table.
-Refer to Table 22-2. Which of the following statements is correct regarding the Condorcet paradox and the results of pairwise voting by Stephanie, Stella, and Lydia?
Debit Transaction
A financial transaction in which money is taken out of a bank account, typically reflecting a purchase or payment.
Smaller Fees
Lesser charges or costs imposed for services, transactions, or regulatory requirements.
MICR Numbers
Magnetic Ink Character Recognition numbers; used primarily on checks for the purpose of easy processing by financial institutions.
Magnetic Ink
A type of ink formulated with iron oxide particles for magnetic character recognition applications, commonly used in banking.
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