On Monday,Sam's Computer Company Wires Bob's Computer Mart,"I Have Two

question 145

Essay

On Monday,Sam's Computer Company wires Bob's Computer Mart,"I have two IBM XT's for sale for $1700 each.You pay cost of shipping." Bob received the offer on Monday afternoon and wired back,"You have a deal.30 days same as cash." On Tuesday morning Sam called to revoke the offer.On Tuesday afternoon Sam received the wire.Sam says there is no contract and Bob says there is.Who is correct?

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Definitions:

Confidence Interval

A variety of values, based on statistics from a sample, which is conjectured to envelop an obscure population parameter.

P-value

A statistical concept indicating the probability of observing data as extreme as those seen, if the null hypothesis were true, used in hypothesis testing.

Maximum Oxygen Uptake

The highest amount of oxygen an individual can utilize during intense or maximal exercise, indicating aerobic endurance capacity.

Normal Distribution

A bell-shaped curve, which is symmetric about the mean, depicting the distribution of many types of data.