Mike Makes Out a Check to Vin's Name and Delivers

question 8

Multiple Choice

Mike makes out a check to Vin's name and delivers it to Ben. However, Mike asks Ben to hold onto to the check until he receives goods from Vin, but Ben delivers it to Vin who then refuses to supply the goods. Which of the following is likely to occur in this case?

• A) Ben can be sued by Mike for breaking his trust.
• B) Mike is liable to pay the check despite not receiving the goods.
• C) Mike can reclaim the check from Vin through a court of law.
• D) Vin is entitled to deposit the check and keep the goods with him.

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Definitions:

Degree of Freedom

The number of independent ways by which a dynamic system can move without violating any constraint applied on it, often used in statistics to determine the number of values in the final calculation of a statistic that are free to vary.

Chi-square Distribution

Chi-square distribution is a distribution of the sum of squared independent random variables, used primarily in hypothesis testing for categorical data.

Chi-square Distribution

A probability distribution used in statistical analysis that is applicable when dealing with categorical data and assessing how likely observations are due to chance.

Skewed to the Right

Refers to a distribution where the tail is on the right side, indicating that the majority of data points are concentrated on the left.