Question:

Unit 6 Understanding Contracts

Understanding the various kinds of contracts such as insurance or estate planning can be overwhelming. Which is why for this lab, be selecting one of the contract categories discussed in the unit and creating a brochure that takes an in-depth look at it. You may choose to create brochure on Insurance or perhaps Estate Planning (which includes living and last wills) for example.

While you have plenty of creative freedom in terms of how you will format your brochure, you will need to make sure that it addresses whatever category of contracts you have selected. To help you map out the information that you will need to include, use the following checklist to guide your information gathering whether it be from the unit or from online research (likely a combination of both):

An overall explanation of contracts

5 main elements of most contracts

An overall description of the contract category you selected

The purpose (in general) (the purpose of insurance or the purpose of estate planning)

Why are these types of contracts important?

Who might need or use these types of contracts? Why?

At least three examples of contracts that fall within this category (i.e. health insurance) with a detailed description of each

Any other essential information that one might need to know about this particular category of contracts

Your brochure should include a clear title, several images or graphics, and be organized into various sections. Imagine that this brochure could sit on the counter at an insurance agency or estate planning office and offer newcomers valuable information to get them started.

Refer to the rubric below for more information on how you will be graded. Please include a list of any websites or online resources that you use in your research.

Markets for Goods end Services Fimys Households G Markets for Factors of D Production Refer to Figure 2-1 Which anow represents the flow of land, labor, and capital? ObD OCB ode Saved QUESTION 13 3.00000 points In the markets for the factors of production in the circula flow diagram O a households and firms are both buyers. b households and firms are both sellers O c households are buyers and firms are sellers, "d households are sellers and firms are buyers.4. Explain the differences in the sampling distributions of x for large and small samples under the following assumptions. Complete parts a and b. a. The variable of interest, x, is normally distributed. Choose the correct answer below. O A. There are no differences, as both large and small samples will have normal sampling distributions. O B. Large samples will have a normal sampling distribution due to the Central Limit Theorem, but small samples will not have a normal sampling distribution. O C. Small samples will have a normal sampling distribution due to the Central Limit Theorem, but large samples will not have a sampling distribution. O D. There are no differences, as neither large nor small samples will have normal sampling distributions. b. Nothing is known about the distribution of the variable x. Choose the correct answer below. O A. Small samples will have a normal sampling distribution due to the Central Limit Theorem, but the sampling distribution of the large samples is unknown. O B. There are no differences, as both large and small samples will have normal sampling distributions. O C. Large samples will have a normal sampling distribution due to the Central Limit Theorem, but the sampling distribution of small samples is unknown. O D. There are no differences, as the sampling distributions for both large and small samples are unknown