A Group of 100 Students Were Surveyed About Their Interest

question 46

Multiple Choice

A group of 100 students were surveyed about their interest in a new Economics major. Interest was measured in terms of high,medium,or low. In the study,30 students responded high interest,50 students responded medium interest,and 20 students responded low interest. What is the best way to illustrate the relative frequency of student interest?

• A)Use a cumulative frequency polygon.
• B)Use a box plot.
• C)Use a pie chart.
• D)Use a frequency table.

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Definitions:

Demand Conditions

pertain to the nature and size of the market demand for products or services in a given industry, influencing competitive strategy and innovation.

Pure Monopolist

A single seller in a market with no close substitutes for the product, giving the seller significant control over prices.

Maximum Profit

The highest possible financial gain a business can achieve from its operations, given its costs and revenue structure.

Minimum Loss

The lowest possible amount of financial detriment that a business or individual can incur under given circumstances.