In a Recent Report, It Was Stated That the Proportion

question 84

Multiple Choice

In a recent report, it was stated that the proportion of employees who carpool to their work is 0.14 and that the standard deviation of the sampling proportion is 0.0259. However, the report did not indicate what the sample size was. What was the sample size?

• A) 100
• B) 180
• C) 460
• D) Can't be determined without more information

Understand the legal principles distinguishing void, voidable, and unenforceable contracts.

Grasp the concepts of promissory estoppel and its application.

Recognize how Article 2 of the UCC differentiates between merchants and nonmerchants.

Comprehend the negotiability and characteristics of standardized contracts.

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Definitions:

Public Good

Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

Nonexcludable

Nonexcludable goods are those that cannot feasibly or reasonably be kept from individuals who do not pay for them, one of the characteristics of public goods.

Nonrival

A characteristic of a good whereby one person's consumption does not prevent or decrease the ability of others to enjoy it as well.

Private Good

A product or service that is consumed by a single individual or household and cannot be used or consumed by others simultaneously.