A Credit Card Company May Not Bill a Consumer for a Damaged

question 78

Multiple Choice

A credit card company may not bill a consumer for a damaged item that is unknowingly purchased with the card if the ________.

• A)consumer purchased the item in the same state as the consumer's home or within 100 miles of the consumer's home
• B)consumer purchased the item in the same state as the consumer's home or within 100 miles of the consumer's home,and the item cost more than $50
• C)consumer purchased the item in the same state as the consumer's home or within 100 miles of the consumer's home; the item cost more than $50; and the consumer made a good-faith effort to resolve the dispute,such as asking the store for a refund
• D)consumer purchased the item in the same state as the consumer's home or within 100 miles of the consumer's home; the item cost more than $50; the consumer made a good-faith effort to resolve the dispute,such as asking the store for a refund; and the seller has a history of selling defective merchandise
• E)consumer has used the item for personal reasons and/or in the ordinary course of the consumer's business.

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Definitions:

Prior Probabilities

The probabilities assigned to events or hypotheses before any relevant evidence is taken into account, in the context of Bayesian statistics.

Posterior Probabilities

The probabilities updated in light of new evidence, reflecting the likelihood of events after taking into account the known data.

Prior Probabilities

The probabilities of events based on prior knowledge before any new evidence is considered.

Likelihood Probabilities

The probabilities that quantify the plausibility of different parameter values for a statistical model given the observed data.