The Relative Frequency of a Class in a Histogram Is

question 104

Multiple Choice

The relative frequency of a class in a histogram is computed by

• A)dividing the frequency of the class by the number of classes.
• B)dividing the frequency of the class by the class width.
• C)dividing the frequency of the class by the total of all frequencies.
• D)None of these choices.

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Definitions:

Network Effects

Network effects occur when the value of a product or service increases as more people use it, making it more attractive and beneficial to users.

Simultaneous Consumption

The same-time derivation of utility from some product by a large number of consumers.

Specialized Inputs

Resources or materials that are tailored for specific tasks or industries, enhancing the efficiency and quality of production.

Rent-Seeking Behavior

Activities by individuals or firms aimed at securing economic gain without contributing to productivity, typically through political lobbying for favorable regulations or monopolistic advantages.