A Histogram That Is Positively Skewed Is Also Called

question 46

Multiple Choice

A histogram that is positively skewed is also called:

• A) skewed to the right
• B) skewed to the left
• C) balanced
• D) symmetric

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Definitions:

Total Utility

The complete pleasure or advantage a customer gets from using a certain amount of products or services.

Rational Consumer

An economic concept of a consumer who seeks to maximize utility or satisfaction from goods and services within their budget constraints.

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.

Maximum Utility

The highest level of satisfaction or benefit that a consumer can obtain from the consumption of goods and services within the constraints of their income and prices.