What Is the Term for a Condition That Is Specified

question 41

Multiple Choice

What is the term for a condition that is specified in a contract?

• A)Express condition
• B)Implied condition
• C)Corporate condition
• D)Bilateral condition

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Definitions:

Bootstrapping

A statistical method that involves drawing repeated samples from a dataset to estimate a population parameter.

Mean

The mathematical average of a set of numbers, determined by dividing the sum of the values in the set by the number of values.

Median

The middle value in a sorted list of numbers, dividing the data set into two halves.

Trimmed Mean

This is a method of averaging that involves removing a certain percentage of the largest and smallest values before calculating the mean.