You Have Collected Data on the Monthly Seasonally Adjusted Civilian

question 70

Multiple Choice

You have collected data on the monthly seasonally adjusted civilian unemployment rate for the United States over a 10-year period.Which of the following is the best for presenting the data?

• A)A contingency table.
• B)A stem-and-leaf display
• C)A time-series plot.
• D)A side-by-side bar chart.

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Definitions:

Average-Total-Cost Curve

Graphical representation that shows how the average total costs of production change as the quantity of output is altered.

Average-Fixed-Cost Curve

A graphical representation that shows how the average fixed costs of production decrease as the quantity of output increases, due to spreading fixed costs over a larger number of units.

Average Total Cost

Average total cost is the total cost of production divided by the quantity of output produced, including both fixed and variable costs.

Average Variable Cost

The total variable costs (costs that change with the level of output) divided by the quantity of output produced.