Compute the Relative Frequencies for the Data Given in the Table

question 32

Multiple Choice

Compute the relative frequencies for the data given in the table below:

• A) 0.31, 0.14, 0.37, 0.18
• B) 0.37, 0.14, 0.31, 0.18
• C) 0.14, 0.31, 0.37, 0.18
• D) 0.18, 0.31, 0.37, 0.14

---

Definitions:

Expenditures

The financial outflows or payments made by an individual, organization, or government unit, usually for goods or services.

Average Product

The output per unit of input, calculated by dividing total output by the quantity of inputs used.

Production Possibilities

Different combinations of goods and services that an economy can produce efficiently with its available resources and technology.

Diminishing Returns

The principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.