If Ambiguity Is Detected While Determining the Type of a Contract

question 55

True/False

If ambiguity is detected while determining the type of a contract, it is presumed to be a bilateral contract.

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Definitions:

Population

The entire set of individuals or objects of interest or the measurements obtained from all individuals or objects of interest.

Parameter

A value that describes a characteristic of a population, such as its mean or standard deviation, often used in statistical models and inference.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in a dataset deviate from the mean.

Sampling Distribution

Distribution of likelihood for a distinct statistic, emanating from a random selection.