In Determining Class Ranking, Income Is the MOST Important Variable

question 70

True/False

In determining class ranking, income is the MOST important variable.

---

Definitions:

Frequencies

The rate at which a repeated event occurs, often used in the context of how often different values appear in a dataset.

Stacked Bar Chart

A graphical representation of data where bars divided into sub-parts represent the whole and its segments.

Relative Frequency

The proportion of times a value occurs in relation to the total number of outcomes, often expressed as a percentage.

Categorical Variables

Variables that represent types or categories, where the data can be divided into groups with no inherent numerical ordering.