The primary reason the insurance mechanism functions successfully is the:
A) existence of hazard risks
B) ease with which losses can be measured
C) predictability of losses via the law of large numbers
D) existence of many non-industrial nations
C
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Buster and Rover formed a partnership to invest in real estate. However, Buster also decided to sell TVs on the side. Buster went to Harold, a wholesaler, and purchased 20 TVs on credit in the name of the partnership. Harold knew the partnership was formed for the purpose of investing in real estate because he had been solicited to be one of the partners. If Buster does not pay for the TVs,
A. The partnership is liable because Buster had apparent authority to sign for the TVs as a partner. B. As a partner, Rover is personally liable to Harold. C. Harold can seize Buster's partnership interest and collect his or her profits. D. The partnership is not liable because it is not a trading partnership.
According to the text, hypotheses related to differences in the population means and proportions can be tested using the t distribution
Indicate whether the statement is true or false