The Cumulative Relative Frequency Plot Shown Was Constructed Using Data

question 10

Multiple Choice

The cumulative relative frequency plot shown was constructed using data on the percentage of college students enrolled in public institutions for the 50 U.S. states. Which of the following is closest to the approximate proportion of states that have more than 90 percent of college students enrolled in public institutions? ​ ​

• A)0.6
• B)0.1
• C)0.0
• D)0.4
• E)0.9

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Definitions:

Economies of Scale

Refers to the cost advantage that arises with increased output of a product, leading to a reduction in the per-unit cost.

Production Process

A sequence of steps or operations involved in the manufacture of goods or the delivery of services.

Minimum Efficient Scale

The smallest scale of production a firm can achieve while still taking full advantage of economies of scale.

Production Expertise

Specialized knowledge or skills in the process of creating goods or services.