Use the Data Given Below to Answer the Following Question(s)

question 31

Multiple Choice

Use the data given below to answer the following question(s) .
Following is an extract from the Employee Payroll Database of HFR Informatics Inc. $\begin{array}{|l|l|l|l|c|}\hline\text { Employee } & \text { Ethnic Group } & \text { Gender } & \begin{array}{c}\text { Rank / } \\\text { Grade }\end{array} & \begin{array}{c}\text { Pay } \\\text { Scale }\end{array} \\\hline \text { Maria } & \text { Asian American } & \text { Female } & 3 & \text { A } \\\hline \text { Peter } & \text { White American } & \text { Male } & 2 & \text { B } \\\hline \text { George } & \text { Hispanic } & \text { Male } & 1 & \text { C } \\&\text { American }\\\hline \text { Smith } & \text { Black American } & \text { Female } & 1 & \text { D } \\\hline \text { Johnson } & \text { Alaska Native } & \text { Male } & 2 & \text { E } \\\hline \text { Thompson } & \text { Asian American } & \text { Male } & 2 & \text { B } \\\hline \text { Martinez } & \text { Alaska Native } & \text { Male } & 3 & \text { A } \\\hline \text { Lewis } & \text { White American } & \text { Female } & 2 & \text { B } \\\hline \text { Lee } & \text { Black American } & \text { Male } & 2 & \text { A } \\\hline \text { Taylor } & \text { Asian American } & \text { Female } & 1 & \text { B } \\\hline \text { Carter } & \text { Asian American } & \text { Male } & 2 & \text { C } \\\hline \text { Edwards } & \text { Hispanic } & \text { Male } & 2 & \text { E } \\&\text { American }\\\hline \text { Bailey } & \text { White American } & \text { Male } & 2 & \text { B } \\\hline \text { Cooper } & \text { White American } & \text { Male } & 2 & \text { A } \\\hline \text { Bill } & \text { Alaska Native } & \text { Male } & 3 & \text { E } \\\hline \text { Cox } & \text { Asian American } & \text { Male } & 1 & \text { A } \\\hline \text { Perry } & \text { Hispanic } & \text { Female } & 2 & \text { C } \\&\text { American }\\\hline \text { Flores } & \text { Alaska Native } & \text { Female } & 2 & \text { B } \\\hline \text { Woods } & \text { White American } & \text { Male } & 3 & \text { E } \\\hline \text { Cole } & \text { Asian American } & \text { Female } & 1 & \text { A } \\\hline\end{array}$
-What is the relative frequency of Grade 3 employees?

• A) 4
• B) 0.55
• C) 0.20
• D) 5

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Definitions:

Variable Demand

Variability in consumer demand over time, impacting production, inventory levels, and supply chain planning.

Forward Buying

The practice of purchasing stock in larger quantities than immediately needed to take advantage of discounts or to hedge against price increases.

Peak Demand Period

The time frame when the demand for a product or service reaches its highest point.

Pricing Decisions

These are determinations made by businesses about how much to charge for their products or services, influenced by costs, demand, and competitive factors.