An Ogive Is a Graph That Represents Cumulative Frequencies or Cumulative

question 4

Multiple Choice

An ogive is a graph that represents cumulative frequencies or cumulative relative frequencies. The pointslabeled on the horizontal axis are the

• A) Upper class limits
• B) Lower class limits
• C) Midpoints
• D) Frequencies

---

Definitions:

Price of X

Denotes the amount of money required to purchase a specific good or service dubbed "X".

Price of Y

The amount of money required to purchase a specific quantity of product Y or service Y.

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Net Increase

The overall rise in a particular number after all deductions or decreases have been considered.