When Using Excel's Histogram Option Under the Data Analysis Tool

question 86

Multiple Choice

When using Excel's Histogram option under the Data Analysis tool, the term bins refers to:

• A) the mid-point of each class.
• B) the column where the data are located.
• C) the upper limits of each class.
• D) the lower limits of each class.

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Definitions:

Unregulated Market

A market where operations are conducted without oversight by governmental regulations or interventions.

Product Variety

The assortment or range of different products or goods that are available in the market or produced by a company.

Free-Market System

A type of economic system where prices for goods and services are determined by the open market and by consumers. In a free-market system, the laws and forces of supply and demand are free from any intervention by a government or other authority.

Coordinating Mechanism

Systems and processes that facilitate the efficient allocation and use of resources within an economy or organization.