Alan Nip, Market Analyst for Clear Sound Mart, Is Analyzing

question 62

Multiple Choice

Alan Nip, market analyst for Clear Sound Mart, is analyzing the relation between heavy metal CD sales and the size of the teenage population.He gathers data from six sales districts.Alan's dependent variable is annual heavy metal CD sales (in $1,000,000's) , and his independent variable is teenage population (in 1,000's) .Regression analysis of the data yielded the following tables: Alan's sample size is ___.

• A)2
• B)4
• C)6
• D)8
• E)10

Identify and explain the criteria for product defects under strict product liability.

Understand the requirements for liability under Section 402a of the Restatement of Torts (Second).

Learn how damages can be recovered under the Uniform Commercial Code (UCC).

Distinguish between different types of product defects (design, manufacturing, and warning).

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Definitions:

Trade by Barter

The exchange of goods or services between parties without the use of money as a medium of exchange.

Capital Goods

Long-term assets such as buildings, machinery, and equipment used by businesses to produce goods and services.

Division of Labor

Division of labor is the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Productivity

A measure of average output or real output per unit of input. For example, the productivity of labor is determined by dividing real output by hours of work.