In General,a Frequency Distribution Should Have at Least 8 Class

question 33

True/False

In general,a frequency distribution should have at least 8 class groups but no more than 20.

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Definitions:

Barriers to Entry

Obstacles that make it difficult to enter a given market, potentially including high startup costs, strict regulations, or strong competition.

Few Firms

In markets characterized by few firms, also known as oligopolies, a small number of companies dominate the industry, leading to limited competition.

Prime Rate

The interest rate that banks charge their most creditworthy customers, often used as a benchmark in lending rates.

Covert Collusion

A secret agreement between firms to fix prices or divide the market to limit competition, which is illegal in many jurisdictions.