Examlex
The following data represent the number of small cracks per bar for a sample of eight steel bars:
4 6 10 1 3 1 25 8
Which, if any, of the observations appear to be outliers? Justify your answer.
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Acceptance
In contract law, the agreement by the party receiving an offer to the terms of that offer, leading to a binding contract.
Contract
A legally binding agreement between two or more parties that outlines obligations they must fulfill.
Without Reserve
In auctions, this refers to items being sold with no minimum bidding threshold, indicating they will be sold to the highest bidder regardless of the price.
Auction
An auction is a sale where items are offered for purchase to the individual who presents the highest offer.
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