Suppose a Company in North Carolina Contracts to Buy Toys

question 10

Multiple Choice

Suppose a company in North Carolina contracts to buy toys from a company in China. The firms must use:

• A) the UCC because it requires U.S. buyers to use the UCC
• B) the CISG because it is an international sale of goods
• C) Chinese law because, under the CISG, the law of the seller is used
• D) the law of a neutral nation to avoid bias
• E) none of the other choices are required; they may pick any relevant law

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Definitions:

Null Hypothesis

A default hypothesis that there is no effect or no difference, and any observed deviation in data is due to chance.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution minus the number of parameters estimated.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is true, commonly set at 0.05 or 5%.

Chi-Square Value

A statistic that measures the difference between observed and expected frequencies to test for independence in categorical variables.