Frequency Distributions Are a Good Way

question 16

Multiple Choice

Frequency distributions are a good way

• A)to display bivariate information
• B)to display continuous data in the form of a graphic
• C)to interpret public opinion from survey questions
• D)to interpret the error present in estimates of dispersion

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Definitions:

Consumer Surplus

The disparity between the ideal total expenditure consumers are willing to make on a good or service and the real expenditure.

Producer Surplus

The distinction in financial terms between what producers expect to receive for a product or service and the actual revenue attained.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual market price they receive, reflecting the benefit to producers from selling at a higher price.

Tax

A fundamental fiscal obligation or alternative sort of levy placed upon a taxpayer by a government power, promoting government funding and assorted investments in public infrastructure.