Non-Normality of Residuals Is Not Usually Considered a Major Problem

question 54

True/False

Non-normality of residuals is not usually considered a major problem unless there are outliers.

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Definitions:

Doctrine of Privity

A principle that states a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.

Statutory Assignment

The transfer of rights or benefits from one party to another as permitted or dictated by statute.

Chose in Action

A personal right to property that is recoverable through legal action, such as debts owed or rights in a contract.

Contract Mistakes

Errors made by one or more parties that can affect the validity and enforceability of a contract.