From a population of size 500, a random sample of 50 items is selected. The mode of the sample
a. must be 500.
b. must be equal to the mode of population, if the sample is truly random.
c. must be equal to the mean of the population, if the sample is truly random.
d. can be larger, smaller or equal to the mode of the population.
d
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A printed price of manufacturer or wholesaler that is subject to special discounts is called a
a. net price; b. gross price; c. list price; d. trade price; e. purchase requisition
Which of the following statements about sales puffery is true?
A. Puffery typically occurs when a salesperson deliberately makes erroneous statements. B. The difference between sales puffery and statements of fact is easy to distinguish. C. Generally, the less knowledgeable the customer, the greater the chances the court will interpret a statement as actionable. D. A salesperson's statements of puffery should be taken at face value and considered factual. E. Misrepresentation cases are judged on the use of standardized words and phrases.
An investment is classified as short term or long term based on
a. whether the investment can be sold immediately. b. the length of time the investor expects to hold it. c. the purpose for which it is held. d. the dollar amount of the investment.
States have authorized the formation of limited liability companies
a. True b. False Indicate whether the statement is true or false