Government Regulators Calculate the Share of Industry Sales Accounted for by Industry

question 148

Multiple Choice

Government regulators calculate the share of industry sales accounted for by industry X's eight largest firms at 22%. This is an example of

• A) the Herfindahl-Hirschman Index.
• B) the Consumer Price Index.
• C) the Producer Price Index.
• D) a concentration ratio.

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Definitions:

Frequency Distribution

A summary of data showing the number or frequency of observations in each category or interval of a variable.

Median

The median is the middle value in a sorted list of numbers, dividing a dataset into two halves, such that half the values are above the median and half are below.

Set of Data

A collection of data points or numbers gathered to provide information for analysis.

Median

The middle value in a set of ordered data, dividing the dataset into two equal halves.