An Example of Raw Data from a National Chain of Automobile

question 40

Multiple Choice

An example of raw data from a national chain of automobile stores would be

• A)an average of 13 Toyotas are sold daily in Kentucky.
• B)30-percent increase in Toyota RAV4 sales during September in Kentucky.
• C)1 Toyota RAV4 sold March 3,2013,in Louisville,Kentucky.
• D)10-percent improvement in sales projections for Toyota sales next year.
• E)a demographic breakdown of all Toyota buyers in the past year.

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Definitions:

Inelastic Supply

Describes a situation where the quantity supplied of a good changes by a smaller percentage than the percentage change in its price.

Excise Tax

A tax levied on specific goods, services, or transactions, often to discourage consumption or generate revenue for public purposes.

Cigarette Manufacturers

Companies engaged in the production and sale of cigarettes.

Burden

Often used in the context of taxation or regulations, indicating the weight of responsibility or negative impacts placed on individuals or organizations.