Edward Owes Frank $100,payable in Six Months

question 6

Multiple Choice

Edward owes Frank $100,payable in six months.Frank,who is leaving the country on work,gives his rights to the payment to Marge for $80.Indicate the true statement about this case.

• A)Frank is the obligor.
• B)Edward owes Marge $80.
• C)Edward owes Marge $100.
• D)Frank will get $100 from Edward.

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Definitions:

Population Parameter

A numerical value that represents a characteristic of a population.

One-tailed Test

A statistical test that determines the direction of a relationship, testing either for a positive or negative effect but not both.

Two-tailed Test

A statistical hypothesis test in which the area of rejection is on both ends of the sampling distribution, allowing for testing of deviations in both directions.

Generalizability

The extent to which findings from a study can be applied to broader contexts or different groups of people.