A new car salesperson knows that he sells cars to one customer out of 20 who enter the showroom. The probability that he will sell a car to exactly two of the next three customers is:

A buyer and seller enter into a written contract for the sale of some specialty steel to be used by

the buyer in the manufacture of some appliances. The contract specified all the terms of the contract except the price. Which of the following is true? A) A reasonable price will be implied. B) There would be a contract except that the price cannot be implied in this contract because it is not a contract for the sale of a commodity with an easily determined market price. C) A price will be implied only if the contract called for the price to be determined at a later date. D) There is no contract because there is no meeting of the minds as to a material term.

This company has not hit its targets for the use of renewable energy because these sources have higher costs compared to other sources of energy. In general, the public has not been willing to pay for the added costs

A) Walmart B) IKEA C) IBM D) 3M