Roy and Sheila Are Parties to a Contract

question 26

Multiple Choice

Roy and Sheila are parties to a contract. They subse?quently agree that Tony should take Roy's place and assume all of his rights and duties under the contract. This is

• A) a novation.
• B) an accord and satisfaction.
• C) an assignment.
• D) a modification.

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Definitions:

Line Of Best Fit

The regression line that best fits the observed scores and minimizes the error in prediction.

Scatter Plot Line

Might refer to a trend line drawn through a scatter plot to show the direction of the relationship between two variables, although "Scatter Plot Line" is not a standard term.

Correlation

An index quantifying how much two or more variables move in conjunction with one another.

Prediction Error

The difference between the observed values and the values predicted by a model.