In Franchising,________ Pay Fees and Royalties to a ________ in Return

question 54

Multiple Choice

In franchising,________ pay fees and royalties to a ________ in return for the right to sell its products or services under the franchiser's trade name and often to use its business format and system.

• A)franchiser;franchisee
• B)franchisee;franchiser
• C)franchise;business owner
• D)business owner;parent company

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Definitions:

Dependent Trials

Experiments or trials in which the outcome or result of one affects the outcome or result of another.

Discrete Probability

The probability of occurrence of outcomes in a dataset that consists of distinct, separate values.

Required Condition

A necessary state or circumstance that must be met for something to occur or be considered true.

Probability Function

A function that associates a probability with each outcome in the sample space of a stochastic experiment.