Differentiate between practical reason and theoretical reason.
What will be an ideal response?
Practical reason is described as reasoning about what we should do, whereas theoretical reason involves reasoning about what we should believe.
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?Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using
A. ?Chebyshev's theorem. B. The empirical rule. C. ?A five-number summary. D. Percentiles.
Nick, a builder, contracts with the city of Chicago to build a new convention center. Jack, a hotel owner, stands to benefit once the convention center is built. Jack decides to sue Nick if Nick backs out of the contract. Which of the following statements is true of this scenario?
A. Jack can sue Nick because he is a donee beneficiary. B. Jack can sue Nick because Jack is a citizen of Chicago. C. Jack cannot sue Nick because he is a creditor beneficiary. D. Jack cannot sue Nick because he is an incidental beneficiary.
Common uses of the statement of cash flows include all but which of the following?
A. Creditor evaluation of a company's ability to generate cash to cover debt. B. Government assessment of whether the company paid the correct amount of taxes. C. Management prediction of future cash flows for decision making. D. Management determination of the specific sources and uses of cash. E. Investor assessment of cash flows before buying and selling stock.
Which of the following approaches should forecasters follow while choosing the best forecasting method?
A. select the method that results in the fewest forecasting errors B. examine the performance of a single forecasting method over time C. select the method that results in the largest forecasting errors D. There is no significance on the forecasting method selected since there will always be differences between the forecasts and actual values.