A Summary of Data That Shows the Number of Observations

question 20

Multiple Choice

A summary of data that shows the number of observations in each of several nonoverlapping bins is called a(n) ​

• A)frequency distribution.
• B)sample summary.
• C)bin distribution.
• D)observed distribution.

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Definitions:

Residual Claimants

Individuals who personally receive the excess, if any, of revenues over costs. Residual claimants gain if the firm’s costs are reduced or revenues increase.

Market Wages

The prevailing pay rates for work in a particular market or industry, determined by supply and demand dynamics.

College Graduates

Individuals who have successfully completed a degree program at a college or university.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex, rephrased from employment context to a general context.