A Draft Is Issued by the Exporter's Bank, Ordering the Importer's

question 24

True/False

A draft is issued by the exporter's bank, ordering the importer's bank to pay for the merchandise and thus guaranteeing payment once it is accepted by the importer's bank.

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Definitions:

Population Parameter

A numerical characteristic or measure that describes an aspect of a population, such as its mean or variance.

Sampling Distribution

The distribution of probabilities for a certain statistic, obtained from a random sample.

Sample Statistic

A numerical measure that describes an aspect of a sample of a population.

Probability Samples

Samples chosen in such a way that every member of the population has a known, non-zero chance of being included.