The Bar Chart Below Is of the Colour of Motor

question 18

Essay

The bar chart below is of the colour of motor vehicles in a random sample. A student commented that the distribution was negatively skewed. Explain what is wrong with this statement.
Relative Frequency: Motor Vehicle Colour

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Definitions:

Undiscounted Lease Payments

Lease payments made over the lease term without reducing them for interest or present value factors.

Lessees Disclosure

Information that lessees are required to make known, typically relating to the rights and obligations arising from leasing arrangements per accounting standards.

Initial Direct Costs

Expenses directly associated with obtaining a financing agreement or leasing contract.

Lease Expense

The cost incurred from leasing an asset, recognized in the income statement over the lease term as an operating expense for operating leases or as depreciation and interest for finance leases.