The Fitness Center Manager Has Collected Data on the Number

question 48

Multiple Choice

The Fitness Center manager has collected data on the number of visits to the club each week for the past 8 weeks.These data are shown as follows.Which of the following statements is most correct?

• A)The proper graph for displaying these data is a pie chart.
• B)There has been a gradual downward trend in these data.
• C)A frequency histogram should be developed to help identify the trend in these data.
• D)The data lend themselves to a line chart.

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Definitions:

Economic Rents

Earnings in excess of the minimum necessary to keep a factor of production in its current use, often associated with restricted supply or monopoly power.

Imperfectly Competitive

A market structure where individual firms have some control over the price of their products due to a lack of perfect competition.

Market Price

The current price at which a good or service is bought and sold in a marketplace, determined by supply and demand dynamics.

Unit Of Output

The measure of the quantity of a product or service produced by a firm, industry, or economic sector.