Chapter 7

(noun)

In bankruptcy involves basic liquidation for businesses. Also known as straight bankruptcy, it is the simplest and quickest form of bankruptcy available.

Related Terms

Examples of Chapter 7 in the following topics:

  • What Happens in Bankruptcy

    • These trustees maintain and supervise a panel of private trustees for Chapter 7 bankruptcy cases.
    • Liquidation under a Chapter 7 filing is the most common form of bankruptcy.
    • Under Chapter 7, a trustee collects the non-exempt property of the debtor, sells it, and distributes the proceeds to the creditors.
    • Because each state allows for debtors to keep essential property, most Chapter 7 cases are "no asset" cases - meaning that there are not sufficient non-exempt assets to fund a distribution to creditors.
    • Individuals usually file Chapter 7 or Chapter 13.

  • Table of Contents

    • For example, a chapter in our U.S.
    • A single chapter will be denoted by a number; for example, the "Founding a Nation" chapter in U.S.
    • History is Chapter 7.
    • For example, a section in the Founding a Nation chapter is "A New Constitution,” numbered Section 7.2.
    • An example of a concept from the "A New Constitution" section is "The Branches of Government," Concept 7.2.3.

  • Chapter Questions

    • 7.

  • Solutions to Exercises in Chapter 8

    • Solutions to Practice: The Central Limit Theorem Solution to Exercise 7.6.1

  • Beginning with straight lines

    • Scatterplots were introduced in Chapter 1 as a graphical technique to present two numerical variables simultaneously.
    • Figure 7.4 shows a scatterplot for the head length and total length of 104 brushtail possums from Australia.
    • Straight lines should only be used when the data appear to have a linear relationship, such as the case shown in the left panel of Figure 7.6.
    • We only consider models based on straight lines in this chapter.
    • If data show a nonlinear trend, like that in the right panel of Figure 7.6, more advanced techniques should be used.

  • Chapter Questions

  • Skewness and the Mean, Median, and Mode

    • 4 ; 5 ; 6 ; 6 ; 6 ; 7 ; 7 ; 7 ; 7 ; 7 ; 7 ; 8 ; 8 ; 8 ; 9 ; 10
    • 4 ; 5 ; 6 ; 6 ; 6 ; 7 ; 7 ; 7 ; 7 ; 8
    • 6 ; 7 ; 7 ; 7 ; 7 ; 8 ; 8 ; 8 ; 9 ; 10
    • The mean is 7.7, the median is 7.5, and the mode is 7.
    • Skewness and symmetry become important when we discuss probability distributions in later chapters.

  • Practice 2: Exponential Distribution

    • Exercise 5.7.6: Find the amount (percent of 1 gram) of carbon-14 lasting less than 5730 years.
    • Exercise 5.7.7: Find the percentage of carbon-14 lasting longer than 10,000 years.
    • Exercise 5.7.8: Thirty percent (30%) of carbon-14 will decay within how many years?
    • Solutions to problems can be found at the end of the chapter

  • Practice 2: Confidence Intervals for Means, Unknown Population Standard Deviation

    • Solutions to exercises can be found at the end of the chapter

  • Practice 1: Hypothesis Testing for Two Proportions

    • Solutions to problems can be found at the end of the chapter