The Fair Labor Standards Act Sets Standards by Which Companies

question 165

True/False

The Fair Labor Standards Act sets standards by which companies must manage pension funds,whereas the Employee Retirement Income Security Act of 1974 established a minimum hourly wage.

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Definitions:

Class Boundaries

The values that sit between classes in a frequency distribution, used for continuous data to separate different classes.

Discrete Data

Data that can only take on specific values and cannot be made more precise by further measuring or subdividing.

Skewed Left

A distribution characterized by a longer tail on the left side, suggesting that the bulk of data is concentrated to the right of the mean.

Relative Frequency Histogram

A type of histogram that displays the relative frequencies of different categories of data, showing the proportion of data that falls into each category rather than the raw count.