What Is a Range Check?  Provide an Example of a Range

question 76

Essay

What is a range check?  Provide an example of a range check using a series of if..else statements using the values defined below.
final double HIGH_LIM = 1000.00;
final double HIGH_RATE = 0.08;
final double MED_LIM = 500.00;
final double MED_RATE = 0.06;
final double LOW_RATE = 0.05;

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Definitions:

Firms

Business entities or organizations engaged in commercial, industrial, or professional activities, aiming to produce and sell goods or services to consumers.

Law Of Supply

The principle that, other things equal, an increase in the price of a product will increase the quantity of it supplied, and conversely for a price decrease.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.

High Prices

A situation where the cost of goods or services is significantly above average or expected levels.