Provide an Appropriate Response

question 118

Multiple Choice

Provide an appropriate response
-High temperatures in a certain city for the month of August follow a uniform distribution over the interval 64°F to 94°F. Find the high temperature which 90% of the August days exceed.

• A) 67°F
• B) 91°F
• C) 74°F
• D) 94°F

---

Definitions:

Legal Sufficiency

The measure of whether a legal document or action meets the minimum requirements of the law to be enforceable.

Bilateral Contract

An agreement where each of the two parties makes a promise or set of promises to the other, creating mutual obligations.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.

Stock Option

A financial instrument granting the holder the right, but not the obligation, to buy or sell a stock at an agreed-upon price within a certain period.