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The manager of a gas station along an interstate highway has observed that gasoline sales generally increase each week over the summer months as more families travel by car on vacations. He also believes that sales are sensitive to fluctuations in the price of gasoline. He developed the following regression model:
Sales ($) = $59,407 + $509 (Week) + 16,463 (Price/gallon)
-The sales forecast for the 11th week of the summer if the price per gallon is estimated to be $3.00 is:
Duress
A situation where a person is forced or compelled to act against their will or to enter into a contract due to threats, violence, or other pressure.
Unconscionability
A legal doctrine that describes terms in a contract that are so unjust or overwhelmingly one-sided that they are deemed unenforceable.
Misrepresentation
A false statement of fact made by one party to another, which induces the latter to enter into a contract or agreement.
Expert
An individual with specialized knowledge or skills in a particular area, often called upon to give opinions or advice.
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