Use the Data to Create a Stemplot Construct a Pareto Chart to Help Him Decide

question 27

Multiple Choice

Use the data to create a stemplot.
-A car dealer is deciding what kinds of vehicles he should order from the factory. He looks at his sales report for the preceding period. Choose the vertical scale so that the relative frequencies are represented.
$$\begin{array} { r | r } \text { Vehicle } & \text { Sales } \\\hline \text { Economy } & 32 \\\text { Sports } & 8 \\\text { Family } & 56 \\\text { Luxury } & 16 \\\text { Truck } & 48\end{array}$$ Construct a Pareto chart to help him decide.

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive in the market.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the utility gained from the purchase.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service.