What is the definition of a random sample?
a. It is a distinct possible result of an experiment.
b. It is a collection of distinct possible results of an experiment.
c. A sample that is taken in such a way that any possible sample of a given size has the same probability of being selected.
d. It is the sample that has the greatest probability of being selected.
c
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When something goes wrong in the delivery of a service, it is called a ______.
a. service incident b. service mistake c. service failure d. delivery failure
On a common-size balance sheet, current assets should be stated as a percentage of:
A) net income. B) current assets. C) cash. D) total assets.
The management concept of customer orientation motivates a company to spend large amounts on advertising to convince customers to buy the company's standard products.
Answer the following statement true (T) or false (F)
Arnold who worked for the Clean Corporation sold vacuum cleaners house to house. He called on Anna, a single mother on welfare with five children. Convinced by Arnold's sales presentation Anna signed a sales contract to purchase a vacuum cleaner. While the contract stated the price of $600 payable in weekly installments, there were hidden charges (fine print) covering insurance and a service
contract for one year bringing the total to $900 . After paying in $300, a neighbor pointed out the hidden charges to Anna who then stopped payments at the suggestion of Legal Aid under the theory of a. fraud. b. duress. c. misrepresentation. d. unconscionability.