The Normal Monthly Precipitation (In Inches) for August Is Listed

question 61

Multiple Choice

The normal monthly precipitation (in inches) for August is listed for 39 different U.S. cities. Construct an expanded stemplot with about 9 rows. $\begin{array}{lllllllllllll}3.5 & 1.6 & 2.4 & 3.7 & 4.1 & 3.9 & 1.0 & 3.6 & 1.7 & 0.4 & 3.2 & 4.2 & 4.1 \\4.2 & 3.4 & 3.7 & 2.2 & 1.5 & 4.2 & 3.4 & 2.7 & 4.0 & 2.0 & 0.8 & 3.6 & 3.7 \\0.4 & 3.7 & 2.0 & 3.6 & 3.8 & 1.2 & 4.0 & 3.1 & 0.5 & 3.9 & 0.1 & 3.5 & 3.4\end{array}$

• A)
• \(\begin{array} { l|ll }
• 0.&1&4&4\\0.&5&8\\1.&0&2\\ 1.&5&6&7\\ 2.&0&0&2&4\\2.&7&\\3.&1&2&4&4&4\\3.&5&5&6&6&6&7&7&7&7&8&9\\4.&0&0&1&1&2&2&2
• \end{array}\)
• B)
• \(\begin{array} { l|ll }
• 0.&0&1&4&4\\0.&5&8\\1.&0&2\\1.&5&6&7\\2.&0&0&2&4\\2.&7&7&7\\3.&1&2&4&4&4\\3.&5&5&6&6&6&7&7&8&9\\4.&0&0&1&1&2&2&2
• \end{array}\)

---

Definitions:

Individual Firm's Demand Curve

The graph showing the quantity of a product that a firm is willing and able to sell at various prices, holding other factors constant.

Industry Supply

The total amount of a good or service that producers in a particular industry are willing and able to offer for sale at different price levels.

Negative Profits

Refers to a financial loss where expenses exceed revenues within a specific period.

Perfectly Competitive Industries

Industries in which many firms produce identical products, and entry and exit are easy, leading to zero economic profit in the long run.