The More Observations We Have,the ____________________ the Number of Class

question 67

Short Answer

The more observations we have,the ____________________ the number of class intervals we need to use to draw a useful histogram.

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Definitions:

Total Cost

The sum of all costs incurred in the production of goods or services, including fixed and variable costs.

Variable Costs

Costs that change directly in proportion to changes in the level of production or activity within a business.

Fixed Costs

Costs that do not change with the level of output or production, such as rent, salaries, or loan payments.

Fixed Costs

Costs that do not vary with the level of output or production, such as rent, salaries, and loan payments.