Solve the Problem A)31
B)28
C)61
D)30

question 55

Multiple Choice

Solve the problem.
-Using the information in the table on home sale prices in the city of Summerhill for the month of June, determine the width of each class. $$\begin{array} { c | c } \text {Class Limits}& \text {Frequency}\\ \text {(Sale price in thousands) }& \text {(No. of homes sold) }\\\hline 80.0 - 110.9 & 2 \\111.0 - 141.9 & 5 \\142.0 - 172.9 & 7 \\173.0 - 203.9 & 10 \\204.0 - 234.9 & 3 \\235.0 - 265.9 & 1\end{array}$$

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Definitions:

Liability Standard

The established criteria or benchmark for determining legal responsibility or fault in legal cases, varying by jurisdiction and context.

Robinson-Patman Act

An anti-discrimination law aimed at protecting small businesses from unfair competition practices by larger companies, particularly in the context of price differentiation.

Functional Discounts

Price reductions given to intermediaries in the distribution chain for performing certain functions like storage, distribution, or sales efforts.

Price Discrimination

The practice of charging different prices to different customers for the same product or service, typically without a difference in cost.