Provide an Appropriate Response $\begin{array}{r|r|r|r|r|r|r|r|r|r}0 & 1 & 2 & 3 & 4 & 5 & 6 &7& 8 & 9 \\\hline 8 & 8 & 12 & 11 & 10 & 8 & 9 & 8 & 12 & 14\end{array}$

question 7

Essay

Provide an appropriate response.
-Draw one histogram to illustrate bell-shaped data, another for uniform data, and a third for skewed data. Which of these shapes matches the histogram for the first 100 digits of π? Does changing the number of classes alter your answer? (Below is the frequency table for the first 100 digits of π.) $\begin{array}{r|r|r|r|r|r|r|r|r|r}0 & 1 & 2 & 3 & 4 & 5 & 6 &7& 8 & 9 \\\hline 8 & 8 & 12 & 11 & 10 & 8 & 9 & 8 & 12 & 14\end{array}$

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Definitions:

Natural Hedgers

Entities or individuals who inherently have an opposite risk exposure compared to their needed market position, allowing them to hedge their risks without having to use derivative products.

Backwardation

Backwardation is a market condition in which futures prices are lower in the distant delivery months than in the near delivery months, often indicating a shortage of the commodity in the spot market.

Long Position

An investment strategy where an investor purchases an asset with the expectation that its price will rise, aiming to sell it at a higher price.

Oil Futures

Contracts for the future delivery of oil, where buyers and sellers agree on a price for oil to be delivered at a specified date in the future.