Faye Makes and Sells Furniture

question 54

Multiple Choice

Faye makes and sells furniture. Faye and Glen enter into a contract for the delivery of Faye's products to Glen's Gear retail locations for which he agrees to pay the invoiced price. Faye transfers her right to payment under the contract to Haulers Trucking Company. This transfer is

• A) ​a delegation.
• B) ​an assignment.
• C) ​a third party beneficiary contract.
• D) ​alienation.

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Definitions:

Hypotheses

Statements set up for a statistical test that express the relationship between variables. There is usually a null hypothesis (no effect) and an alternative hypothesis (effect present).

Sigma

A symbol (σ) used in statistics to represent the standard deviation of a population.

Type II Error

The error that occurs when a hypothesis test fails to reject a false null hypothesis, also known as a false negative.

Level Of Significance

The threshold for determining whether a statistical result is not due to chance, often set at 0.05 or 5% in many scientific studies.