Each of the Data Sources Discussed in This Chapter Has

question 17

Essay

Each of the data sources discussed in this chapter has both strengths and limitations.What are they? Is there a single "best" data source,or does that depend on the purposes to which you wish to put the data.

Appreciate the role and impact of statutory liens in protecting the rights of artisans and subcontractors.

Grasp the implications of joint and several liability in commercial contracts.

Learn the defenses available to sureties and guarantors in the event of a default.

Understand the concept of being "judgment-proof" in the context of debt obligations.

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Definitions:

Plus Four Method

A statistical method that adds four to the sample size and regards two successes and two failures in a binomial proportion confidence interval.

P-value

The probability of obtaining a test statistic at least as extreme as the one observed, assuming the null hypothesis is true; used to determine statistical significance.

Hypothesis

A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Confidence Interval

A span of values, generated from the statistics of a sample, that is likely to comprise the value of an undefined population parameter.