Ed,a Businessperson,is a Friend of Fran,the Owner of a Candy

question 39

Essay

Ed,a businessperson,is a friend of Fran,the owner of a candy store.Every day,Ed spends five minutes in Fran's candy store,looking at the candy and usually buying one or two candy bars.One afternoon,Ed goes into the store,looks at the candy,and picks up a $1 candy bar.Ed waves the candy at Fran without saying a word and walks out.Is there a con?tract? If so,how would it be classified in terms of formation,perform?ance,and enforceability?

---

Definitions:

Infinite Population

A hypothetical concept referring to a population of unlimited size, used as an assumption in certain statistical models.

Standard Error

A measure of the statistical accuracy of an estimate.

Sampling Distribution

A statistic's distribution of probabilities taken from a randomly selected sample.

Standard Error

A measure that indicates the standard deviation of the sampling distribution of a statistic, most commonly of the mean.