Which of the Following Is an Example of Raw Data

question 82

Multiple Choice

Which of the following is an example of raw data from an automobile manufacturer?

• A)An average of 120 Subarus sold daily in New York in 2016
• B)1,200 Subaru Outbacks sold during the first quarter 2016 in New York
• C)One Subaru Outback sold July 27,2016 in Mohegan Lake,New York for $24,000
• D)Annual sales of Subaru Outbacks increased 5.3 percent
• E)An average sale price of $25,500 for all Subaru Outbacks sold during July 2016 in Mohegan Lake,New York

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Definitions:

Price Takers

Firms or individuals who accept the market price as is because they do not have enough market power to influence the price of the goods or services they sell.

Downward-Sloping Demand

A concept in economics that indicates demand for a good or service decreases as its price increases, assuming all other factors remain constant.

Output

The amount of goods or services produced by a company, industry, or economic system.