Which of the Following Will Most Likely Result from a Destruction

question 217

Multiple Choice

Which of the following will most likely result from a destruction of half of the Florida orange crop due to a hard freeze?

• A) a decrease in the demand for oranges
• B) an increase in the supply of oranges
• C) an increase in the quantity of oranges bought and sold
• D) an increase in the price of oranges

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Definitions:

Ordinal

Refers to a type of categorical variable with a set order or scale, but without a fixed interval between its values.

Level Of Measurement

The classification of a variable according to the attributes it can measure, such as nominal, ordinal, interval, or ratio scale.

Grouped Frequency Distribution

A way of summarizing data by grouping values together into classes or intervals and displaying the count of data points within each class.

Interval

A type of variable measurement scale that represents ordered categories with equal distances between adjacent categories but no true zero point.