When Reading a Table for Bivariate Analysis That Displays Percentages

question 24

Multiple Choice

When reading a table for bivariate analysis that displays percentages of some attributes,what is the rule of thumb for reading the table?

• A) if it adds up to 100% the statistics are accurate
• B) if the table is percentaged down, read across and if the table is percentaged across, read down
• C) if the table is percentaged down, read down and if the table is percentaged across, read across
• D) none of the above

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Definitions:

Price Ceiling

A government-imposed limit on the price charged for a product, intended to prevent prices from rising too high.

Market Clearing Price

The price at which supply equals demand in a market, leading to no unsold surplus or shortages.

Market Clearing Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as the equilibrium price.

Quantity Demanded

The quantity of a product or service buyers are prepared and capable of buying at a specific price.