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The Following Class Intervals for a Frequency Distribution Were Developed

question 105

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The following class intervals for a frequency distribution were developed to provide information regarding the starting salaries for students graduating from a particular school: Salary ($1,000s) 28 -under 3131-under 3534 -under 3739-under 40 Number of Graduates \begin{array}{c}\begin{array}{lll}\text {Salary }\\(\$1,000s) \\\text {28 -under 31}\\\text {31-under 35}\\\text {34 -under 37}\\\text {39-under 40}\end{array}\begin{array}{c}\text { Number of Graduates }\\\\-\\-\\-\\-\\\end{array}\end{array}


Before data were collected, someone questioned the validity of this arrangement.Which of the following represents a problem with this set of intervals?

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Definitions:

Supply

The total amount of a specific good or service that is available to consumers at current prices.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Inelastic

Describing a situation in which the demand or supply of a good or service is relatively unresponsive to changes in price.

Demand

The amount of a product or service that customers can and are willing to buy at different price levels over a specified time.

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