A Frequency Histogram Should Be Computed from Which Type of Data

question 59

Multiple Choice

A frequency histogram should be computed from which type of data?

• A) Quantitative data
• B) Categorical data
• C) Nominal level data
• D) Ordinal data

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Definitions:

Days' Sales

A metric that calculates the average time it takes for a company to convert its inventory into sales.

Average Daily Cost

This measures the average amount spent per day over a specified period, often used in budgeting and financial planning.

Periodic Inventory System

A method of inventory valuation where updates to inventory records are made at specified periods, rather than continuously.

FIFO

"First-In, First-Out," an inventory valuation method where the first items purchased or produced are the first ones sold, affecting the cost of goods sold and ending inventory.