A Company Collected the Ages from a Random Sample of Its

question 6

Multiple Choice

A company collected the ages from a random sample of its middle managers, with the resulting frequency distribution shown below. What is the relative frequency for the class with the greatest frequency?

• A) .132
• B) .226
• C) .231
• D) .283
• E) .288

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Definitions:

Porter's Generic Strategies

A framework that outlines three strategies for achieving competitive advantage: cost leadership, differentiation, and focus.

Sustainable Differentiation

Creating long-term competitive advantage by developing unique product features, services, or practices that are difficult for competitors to replicate.

Niche Market Segmentation

The process of dividing a broader market into smaller customer groups with specific needs, characteristics, or behaviors that might require individualized marketing strategies.

Customer Consolidation

The process of reducing the number of vendors or suppliers used by a company or merging multiple customer accounts or profiles into a single, unified account for better management.