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Vaselesa [24]
1 year ago
5

Quince owns a used-car lot where ray works as a salesperson. quince tells ray not to make any warranties for the cars. to make a

sale to sylvia, however, ray adds a 50,000-mile warranty. later, sylvia sues quince for breach of warranty. quince's right to hold ray liable for any damages he has to pay is the right of
a. ​indemnification.
b. ​reimbursement.
c. ​cooperation.
d. ​avoidance.
Business
1 answer:
lianna [129]1 year ago
8 0
Quince's right to hold ray liable for any damages he has to pay is the right of indemnification. The correct answer is letter A. Indemnification is defined as a contractual obligation by which one party is obliged to compensate the loss by which the associated party has experienced because of the act done by the other.
You might be interested in
The united states department of agriculture (usda) found that the proportion of young adults ages 20–39 who regularly skip eatin
deff fn [24]

Full Question

The united states department of agriculture (usda) found that the proportion of young adults ages 20–39 who regularly skip eating breakfast is 0.238. suppose that lance, a nutritionist, surveys the dietary habits of a random sample of size n=500 of young adults ages 20–39 in the united states.

Apply the central limit theorem for the binomial distribution to find the probability that the number of individuals, ?, in Lance's sample who regularly skip breakfast is greater than 122. You may find table of critical values helpful.

Express the result as a decimal precise to three places.

Answer:

The probability using the Normal Approximation that out of lance’s sample more than 122 people is 0.356

Explanation:

Given

n = Sample Size = 500

p = Probability = 0.238

Using the normal approximation to binomial distribution,

Let X = Event such that a person skips breakfast

If X ~ Binomial (n,p)

Using normal approximation

X ~ Normal (np,npq)

Where n = 500 and p = 0.238

So, X ~ Binomial (n,p) becomes

X ~ Binomial (500 , 0.238)

Using Normal Approximatiom

X ~ (119, 90.678)

The critical table is then constructed as follows;

Binomial --------- Normal

P(X = a) --------- P(a - 0.5 < X < a + 0.5)

P(X ≥ a) --------- P(X > a - 0.5)

P(X > a) --------- P(X > a + 0.5)

P(X ≤ a) --------- P(X < a + 0.5)

P(X < a) --------- P(X < a - 0.5)

Calculating the probability using the Normal Approximation that out of lance’s sample more than 122 people skips

This can be written as P(X > 122)

Looking at the critical table above.

P(X>a) ----- P(X>a + 0.5)

So,

P(X > 122) ---- P(X > 122 + 0.5)

P(X > 122) ---- P(X > 122.5)

Calculating Z score using

z = (x - u)/√σ²

X = 122.5

From X ~ (119, 90.678)

u =mean = 119

σ = standard deviation = √90.678

So,

Z = (122.5 - 119)/√90.678

z = 0.367550550865750

Z = 0.37 ---- Approximated

P(X > 122.5) = P(Z > 0.37)

P(X > 122.5) = 1 - P(Z<0.37) --- using z table

P(X > 122.5) = 1 - 0.6443

P(X > 122.5) = 0.3557

P(X > 122.5) = 0.356 -- Approximated

6 0
2 years ago
Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital
bixtya [17]

Answer:

e. accessory equipment

Explanation:

Accessory equipment are the goods and services that are used by firms and organizations to complete their daily operation. They consist of products and services which are used in the production processes. Likewise, they are considered import which makes them expensive compared to other capital goods. These goods can easily be replaced without affecting the whole process.

8 0
1 year ago
Unlike merchant wholesalers, ___________ never actually own the goods they help to distribute. rack jobbers retailers cash-and-c
ANEK [815]
The correct answer is agents and brokers. Agents and brokers are considered to be a non-manufacturing traders by which they sell, buy, or even facilitate the traded products of which the goods that they sell are not theirs or they didn't actually owned it.
6 0
2 years ago
Ms. Frank is planning for a 25-year retirement period and wishes to withdraw a portion of her savings at the end of each year. S
alina1380 [7]

Answer:

I guess the interest rates are 9.10% and 7% per year.

a) $173,369.67

b) $217,212.31

Explanation:

the total distributions received by Ms. Frank are:

year distribution  

1 10000

2 11000

3 12000

4 13000

5 14000

6 15000

7 16000

8 17000

9 18000

10 19000

11 20000

12 21000

13 22000

14 23000

15 24000

16 25000

17 26000

18 27000

19 28000

20 29000

21 30000

22 31000

23 32000

24 33000

25 34000

Using excel, I calculated the present value of this annuity using the different discount rates (using present value function)

a) $173,369.67

b) $217,212.31

8 0
2 years ago
Habib withdrew $100,000 from his bank account paying 5% interest to purchase equipment for his construction company. If Habib ea
daser333 [38]

Answer:

$5,000

Explanation:

Given that,

Accounting profit = $10,000

Interest rate = 5%

Amount withdraw = $100,000

The economic profit is calculated by subtracting implicit costs and explicit costs from the total revenue.

Accounting profit is determined by subtracting explicit costs from the total revenue.

Accounting profit = Total revenue - Explicit costs

Economic profit:

= (Total revenue - Explicit costs) - Implicit costs

= $10,000 - (Interest income)

= $10,000 - (5% × $100,000)

= $10,000 - $5,000

= $5,000

6 0
2 years ago
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