Fact Pattern 13 - 2 Owen, an Employee of Plumbing

question 17

Multiple Choice

Fact Pattern 13 - 2 Owen, an employee of Plumbing & Pipes LLC, makes a substantial mathematical mistake in totaling the estimated costs for a project for which Quality Construction Inc. is seeking bids. Consequently, Plumbing & Pipes' bid is significantly low.
Refer to Fact Pattern 13-2. The contract with Quality Construction that includes the mistake may be rescinded if the mistake was

• A) made inadvertently and without gross negligence.
• B) intentional.
• C) made with gross negligence.
• D) unilateral.

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Definitions:

Normal Distribution

A symmetric, bell-shaped distribution characterized by its mean and standard deviation, where most observations cluster around the mean.

Sample Means

The arithmetic average of a set of values or observations, calculated as the total sum divided by the number of observations in the sample.

Sample Size

The number of observations or units selected from a population for the purpose of statistical analysis.

Population Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of values in a population.