A Contract for a Sale of a Certain Quantity of Drum

question 57

Multiple Choice

A contract for a sale of a certain quantity of drum kits from Rimshot Drum Company to Musicians Warehouse specifies Urban City as the place for delivery but leaves open the particular address.Obliged to specify the address is

• A)Rimshot Drum Company.
• B)Musicians Warehouse.
• C)the Urban City Chamber of Commerce.
• D)the appropriate state officer (usually the secretary of state).

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Definitions:

One-tailed Test

A statistical test in which the region of rejection is on only one side of the sampling distribution.

Level of Significance

A predetermined threshold in hypothesis testing, below which the null hypothesis is rejected, indicating statistical significance.

Null Hypothesis

A hypothesis that assumes no significant difference or relationship exists in the general population from which a sample is drawn.

Variance

A measure of the dispersion of a set of data points around their mean; the square of the standard deviation.