The Following Class Intervals for a Frequency Distribution Were Developed

question 26

Multiple Choice

The following class intervals for a frequency distribution were developed to provide information
Regarding the starting salaries for students graduating from a particular school:
Before data was collected, someone questioned the validity of this arrangement. Which of the
Following represents a problem with this set of intervals?

• A) there are too many intervals
• B) the class widths are too small
• C) some numbers between 18,000 and 30,000 would not fall into any of these intervals
• D) the first and the second intervals overlap
• E) the second and third intervals overlap

Understand the concept of indifference curves and how they illustrate consumer preferences.

Grasp the significance of budget constraints in consumer choice.

Understand how changes in prices and income affect consumer's choices and utility maximization.

Recognize the economic rationale behind non-cash gift-giving and its impact on utility.

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