Too Many Observations on One Side of the Centre Line

question 78

Multiple Choice

Too many observations on one side of the centre line on a run chart is an indication of what?

• A)cycles
• B)trend
• C)bias
• D)level shift
• E)too much dispersion

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Definitions:

Price Rationing

The process of distributing goods and services among consumers by setting a price level that balances demand with supply.

Allocated

Distributed or assigned resources, time, or funds to specific projects, tasks, or purposes.

Price Floor

A government- or authority-imposed minimum price for a commodity, which is meant to ensure that the market price does not drop below a certain level.

Equilibrium Price

The price at which the quantity of a good or service supplied equals the quantity demanded, leading to market stability where there is no tendency for change.