Bottomline Ink, a Forms Management Company, fiLls 100 Orders a Day

question 104

Multiple Choice

Bottomline Ink, a forms management company, fills 100 orders a day with a 2% error rate in the
Completed orders. Assume this to be a binomial distribution. What is the standard deviation for this
Distribution?

• A) 0.02
• B) 1.4
• C) 2
• D) There is no standard deviation for this type of distribution.

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Definitions:

Mutual Assent

An agreement between parties that is reached when all involved parties have a matching understanding and intention to be bound by the terms.

Agreement Standard

The established criteria or clauses that form the basis of a contractual agreement between parties.

Acceptance

In contract law, it is the act of agreeing to the terms of an offer, thus creating a binding contract.

Commercial Reasonableness

A legal standard that measures the fairness of business practices, actions, or decisions in a commercial context.