Fact Pattern 10-3

question 66

Multiple Choice

Fact Pattern 10-3
Nano Corporation offers to sell a robotic device to Opal Assembly,Inc. ,but mistakenly transposes some of the digits in the price so that $15,400 appears in the offer as $14,500.Opal accepts the written offer.
-Refer to Fact Pattern 10-3.Nano's best defense against enforcement of the contract is that Opal knew

• A)a bilateral mistake supports the cancellation of a contract.
• B)a mistake of value supports the cancellation of a contract.
• C)a unilateral mistake supports the cancellation of a contract.
• D)the price was below the prices of comparable devices.

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Definitions:

Sampling Distribution

The probability distribution of a statistic based on repeated sampling from the same population, used to understand the statistic's properties.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, with a given degree of certainty.

Sample Size

The number of observations or replicates included in a statistical sample.

Confidence Interval

A series of values, derived from examining samples, that is anticipated to cover the value of an unidentified population parameter.