Janet Hires an Export Merchant to Help Expand Her Business

question 172

Multiple Choice

Janet hires an export merchant to help expand her business internationally. After signing contracts with a foreign purchaser outlining the terms of sale and delivery, the exporter will send Janet's merchandise when

• A) Janet's bank receives a letter of credit from the importer's bank.
• B) it receives a letter of credit from Janet's bank.
• C) its bank receives a draft from the importer's bank.
• D) Janet receives a bill of lading.
• E) the ultimate consumer sends a bill of lading to the exporter's bank.

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Definitions:

Categorical Data

Data that fit into distinct categories such as zip code or academic major.

Continuous Data

Data with incremental values between the minimum and maximum. For example, age can have values of years, months, weeks, days, hours, minutes, or seconds.

Frequencies

The counts or occurrences of specific events or characteristics in a set of data.

Central Tendency

A statistical measure that identifies a single value as representative of the middle of a dataset, commonly by using the mean, median, or mode.