Question 3

Question 1

The Uniform Commercial Code incorporates some of the same elements as the Statute of Frauds. Under the Statute of Frauds, certain contracts must be in writing to be enforceable. Research the types of contracts that must be in writing under the Statute of Frauds.

Do you agree with the contracts that need to be in writing and explain why or why not? Imagine that you were asked to be part of a team to draft revisions to the Statute of Frauds. What changes or proposals would you make? Why?

Question 2

Let’s assume that you are interested in doing a statistical survey and you use confidence intervals for your conclusion. Describe a possible scenario and indicate what the population is, and what measure of the population you would try to estimate (proportion or mean) by using a sample.

• What is your estimate of the population size?

• What sample size will you use?

• How will you gather information for your sample?

• What confidence percentage will you use?

Let’s assume that you have completed the survey and now state your results using a confidence interval statement. You can make up the numbers based on a reasonable result.