If the Bars of a Histogram Represent the Proportion of the Total

question 51

Multiple Choice

If the bars of a histogram represent the proportion of the total count that falls into each interval, what must the heights of the bars sum to?

• A)The total number of numbers in the data set.
• B)One.
• C)1 divided by the total number of intervals used in the histogram.
• D)Not enough information to tell.

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Definitions:

Decreasing Returns to Scale

A situation in which a proportional increase in all inputs results in a less-than-proportional increase in output.

Cobb-Douglas Production Function

The Cobb-Douglas Production Function is an economic model representing the relationship of an output to inputs, typically showing how labor and capital contribute to the production process in a way that reflects diminishing returns.

Returns to Scale

The rate at which output increases as inputs are increased proportionally in the production process.

Logarithmic Variable Cost Function

A formula representing the variable costs of production as a logarithmic function, indicating how these costs evolve as production volume changes.