Which of the Following Is a Graphical Summary of a Set

question 40

Multiple Choice

Which of the following is a graphical summary of a set of data in which each data value is represented by a dot above the axis?

• A) Histogram
• B) Pie chart
• C) Dot plot
• D) Crosstabulation

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Definitions:

Utility Function

A mathematical representation of how consumers rank different bundles of goods according to their level of satisfaction or utility.

Consumption

The process by which goods and services are used up by consumers.

Indifference Curves

A graphical representation showing combinations of goods or services among which a consumer is indifferent, depicting equal levels of utility.

Utility Function

A mathematical representation that assigns a level of utility or satisfaction to combinations of goods and services consumed.