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An analyst has the objective of predicting the return on average tangible common equity (ROATCE) of banks. The analyst begins by using the efficiency ratio, a measure of a bank's ability to turn resources into revenue. A sample of 100 American banks is selected and stored in American Banks. Interpret the meaning of the Y-intercept, , and the slope, , in this problem.
In developing their warranty policy, an automobile company calculates that over a 1-year period of their new cars will need to be repaired once, will need repairs twice, and will require three or more repairs. If you bought two new cars, what is the possibility that:
c) At least one car will need repair?
Antex Industries, a Japanese firm, agreed to purchase electronic integrated circuits from Electronic Arrays. The Swiss Credit Bank issued a letter of credit to cover the transaction. The letter of credit specified that the chips would be transported to Tokyo by ship. Electronic Arrays shipped the circuits by air. Payment on the letter of credit was dishonored because the shipment by air did not fulfill the precise terms of the letter of credit. Should a court compel payment? Explain.