Black Friday

U.S. History

(noun)

A scandal (also known as the "Fisk-Gould" scandal and the "Gold Panic"), occurring on September 24, 1869, that was caused by two speculators' efforts to corner the gold market on the New York Gold Exchange. It was one of several scandals that rocked the presidency of Ulysses S. Grant.

Related Terms

Marketing

(noun)

Black Friday is the day following Thanksgiving Day in the United States, traditionally the beginning of the Christmas shopping season.

Related Terms

Examples of Black Friday in the following topics:

  • Scandals

    • Beginning with the Black Friday gold speculation ring in 1869, corruption was uncovered during Grant's two presidential terms in seven federal departments.
    • The first scandal to taint the Grant administration in 1869 was Black Friday (also known as the "Gold Panic"), which was an attempt by two financiers to corner the price of gold without consideration for the nation's economic welfare.
    • Then, on September 23, 1869 (known infamously as "Black Friday"), the price of gold soared to $160 dollars an ounce.

  • Consumer Misbehavior

    • A black market or underground economy is a market in goods or services which operates outside the formal one supported by the established state power.
    • In many parts of the world, black markets operate side by side with legal markets, sometimes openly.
    • Retailers often employ more security and staff during times where the propensity for consumer misbehavior increases, such as during "Black Friday" sales.

  • Panic and Redemption

    • This unstable economic growth came at the end of a series of economic setbacks: the Black Friday panic of 1869, the Chicago fire of 1871, the outbreak of equine influenza in 1872, and demonetization of silver in 1873.

  • Confidence intervals exercises

    • Daily consumer spending for the six-day period after Thanksgiving, spanning the Black Friday weekend and Cyber Monday, averaged $84.71.

  • Sonata Form: The Development

    • However, it has continued to be used every since (examples: the verse and chorus of "Friday" by Rebecca Black, the chorus of "Total Eclipse of the Heart" by Bonnie Tyler).
    • This is the one and only official version of Rebecca Black's "Friday" music video.

  • The t distribution for the difference of two means exercises

    • In the early 1990's, researchers in the UK collected data on traffic flow, number of shoppers, and traffic accident related emergency room admissions on Friday the 13th and the previous Friday, Friday the 6th.
    • (b) What are the hypotheses for evaluating whether the number of people out on Friday the 6th is different than the number out on Friday the 13th?
    • The distributions of these counts from Friday the 6th and Friday the 13th are shown below for six such paired dates along with summary statistics.
    • For example, the Friday the 13th in say, September 1991, would probably be more similar to the Friday the 6th in September 1991 than to Friday the 6th in another month or year.
    • The data provide strong evidence that the average number of cars at the intersection is higher on Friday the 6th than on Friday the 13th.

  • The Robinson Crusoe Example

    • As an individual in isolation (Defoe's Robinson Crusoe before Friday) would have to make choices since time and resources are limited.
    • When Friday came to the island, it became necessary to decide who did what and who got what.
    • It is necessary to coordinate the preferences and activities of Crusoe and Friday.
    • Since the story of Robinson Crusoe was written by an Englishman, Daniel Defoe (1659-1731), Crusoe's values are dominant and he has a greater influence on the decisions than Friday.

  • Inference for numerical data solutions

    • For example, the Friday the 13th in say, September 1991, would probably be more similar to the Friday the 6th in September 1991 than to Friday the 6th in another month or year.
    • The data provide strong evidence that the average number of cars at the intersection is higher on Friday the 6th than on Friday the 13th.
    • (We might believe this intersection is representative of all roads, i.e. there is higher traffic on Friday the 6th relative to Friday the 13th.
    • The data provide strong evidence that the average number of traffic accident related emergency room admissions are different between Friday the 6th and Friday the 13th.
    • Furthermore, the data indicate that the direction of that difference is that accidents are lower on Friday the 6th relative to Friday the 13th.

  • Black Power

    • Black Power emphasized racial pride, the creation of political and social institutions against oppression, and advancement of black collective interests.
    • "Black Power" is a term used to refer to various ideologies associated with African Americans in the United States, emphasizing racial pride and the creation of black political and cultural institutions to nurture and promote black collective interests and advance black values.
    • Black Power meant a variety of things.
    • Martin Luther King, Jr. was not comfortable with the "Black Power" slogan, which sounded too much like black nationalism to him.
    • The 1960s composed a decade not only of Black Power but also of Black Pride.

  • Example: Test for Goodness of Fit

    • If the absent days occur with equal frequencies then, out of $60$ absent days (the total in the sample: $15 + 12 + 9 + 9 + 15 = 60$), there would be $12$ absences on Monday, $12$ on Tuesday, $12$ on Wednesday, $12$ on Thursday, and $12$ on Friday.