The following data represent the scores of 50 students on a statistics exam. The mean
score is 80.02, and the standard deviation is 11.9.
39 51 59 63 66 68 68 69 70 71
71 71 73 74 76 76 76 77 78 79
79 79 79 80 80 82 83 83 83 85
85 86 86 88 88 88 88 89 89 89
90 90 91 91 92 95 96 97 97 98
What percentage of the scores lies within one standard deviation of the mean? two
standard deviations of the mean? three standard deviations of the mean? Based on these
percentages, do you believe that the distribution of scores is mound-shaped and
symmetric? Explain.
74% of the scores lie within one standard deviation of the mean, 96% within two standard deviations, and 98%
within three standard deviations. These percentages are close to those given in the Empirical Rule, so the
distribution is roughly mound-shaped and symmetric, though obviously skewed slightly to the left.
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In a shipment contract, when is the title to the goods considered to have passed to the buyer?
A) when the seller makes the offer to the buyer B) when the seller hands over the goods to the common carrier C) when the seller tenders delivery of the goods at the specified destination D) when the goods are at the time and place of the shipment
________ refers to a condition that requires the occurrence of an event before a party is obligated to perform a duty under a contract.
A. Condition precedent B. Condition subsequent C. Concurrent condition D. Implied condition
Liability policies, such as personal liability, professional malpractice, or business liability insurance, do NOT protect the insured against A) a personal injury on the insured's property, such as the mail carrier who slips and falls on the owner's sidewalk
B) intentional harm caused by the insured. C) claims for property damaged by the insured. D) someone injured by the insured away from home or business.
Requirements for Negotiation. Thomas Fink, Donald Schroer, David Swanson, and Marie Swanson—doing business as F.S.S.S., a partnership—signed two promissory notes to borrow money from the Alaska Mutual Bank (AMB), providing the same real estate as
collateral for both loans. Patricia Fink and LaVonne Schroer signed guaranties of repayment for the second note. AMB failed. The first note ended up in the hands of the First Interstate Bank of Oregon. The second fell into the possession of the Federal Deposit Insurance Corp (FDIC). When Fink, Schroer, and the Swansons were unable to repay the first note, the Oregon bank agreed to accept a lesser amount if the FDIC would approve. The FDIC refused and filed a suit in a federal district court against the Finks, the Schroers, and the Swansons to collect the money due on the note that the FDIC now owned. On the FDIC's motion for summary judgment, one of the issues was whether Patricia and LaVonne's guaranties were negotiable instruments. If so, Patricia and LaVonne could have asserted a certain defense under which they might have been able to avoid liability. Did the guaranties satisfy the requirements for negotiable instruments? Explain.