If There Are 130 Values in a Data Set, How

question 29

Multiple Choice

If there are 130 values in a data set, how many classes should be created for a frequency histogram?

• A) 4
• B) 5
• C) 6
• D) 7
• E) 8

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Definitions:

Perfect Substitutes

Products or goods that can replace each other perfectly with no loss of utility to the consumer.

Utility Function

A mathematical representation of a consumer's preference ranking over a set of goods or services, indicating satisfaction levels.

Units Of X

A generic term for measuring quantities of a variable or unspecified item, labeled as 'X'.

Exchanges Of X For Y

Transactions or trades where one good, service, or asset (X) is traded for another (Y).