Reference - Hot Toaster

question 38

Multiple Choice

Reference - Hot Toaster. Rebecca bought a toaster from Super Store and brought it home. A friend of hers, Greg, was at her house making toast. The toaster malfunctioned and shocked Greg resulting in a small burn to his hand requiring medical attention. At a garage sale, Rebecca also purchased a blender from a friend, Samantha. When she paid for the blender, Rebecca said that it would be great for making smoothies. Samantha said nothing and just smiled while taking Rebecca's money. Unfortunately, the blender was not powerful enough to make smoothies. Which of the following is true regarding whether Samantha made an implied warranty of fitness for a particular purpose to Rebecca that the blender would make smoothies?

• A) Samantha did not make an implied warranty of fitness for a particular purpose because there is no proof that Rebecca was relying on Samantha to make the selection.
• B) Samantha did not make an implied warranty of fitness for a particular purpose because Samantha is not a merchant.
• C) Samantha did not make an implied warranty of fitness for a particular purpose because there is no proof that Rebecca was relying on Samantha to make the selection and also because Samantha is not a merchant.
• D) Samantha made an implied warranty of fitness for a particular purpose to Rebecca that the blender would make smoothies because she had a duty to tell Samantha otherwise.
• E) Regardless of whether she said anything or not, Samantha made an implied warranty of fitness for a particular purpose to Rebecca that the blender would make smoothies because she sold the blender.

Understand the relationship between probabilities and areas under the normal curve.

Recognize the significance of the total area under the normal curve being equal to 1.

Identify and describe the standard normal distribution and its properties.

Understand the concept of a random variable being "standardized".

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Definitions:

Production Budget

A forecast of the quantity of products that must be manufactured in a specified time period to meet customer demand and maintain inventory levels.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Budgeted Sales

Predicted sales revenue for a future period, based on historical data, market analysis, and other forecasting methods.

Cash Collected

The total amount of money received by a company or individual during a specific period, typically from sales, services, or other transactions.