A Consolidated Industry Is Dominated by a Few Large Firms

question 37

True/False

A consolidated industry is dominated by a few large firms, each of which struggles to differentiate its products from the competition.

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Definitions:

Frequency Distribution

An arrangement of data that shows how often each different value occurs in a dataset.

Class

In statistics, a category into which data are grouped for frequency distribution, or in object-oriented programming, a blueprint for creating objects with specific attributes and methods.

Observations

The act of noting and recording something with instruments or senses to gather information.

Relative Frequencies

The ratio of the number of times a particular value occurs to the total number of observations.