The Sum of the Relative Frequencies for All Classes in a Histogram

question 117

Multiple Choice

The sum of the relative frequencies for all classes in a histogram always equals

• A)the number of classes.
• B)the class width.
• C)the total of all the frequencies.
• D)one.

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Definitions:

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit, tailored to each consumer's willingness to pay, capturing all consumer surplus.

Output

The amount of goods or services produced by a company, industry, or economy.

Average Cost Price

The cost per unit of product or service, calculated by dividing the total cost of production by the number of units produced.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed, extracting all consumer surplus.