A Histogram Can Be Defined As

question 88

Multiple Choice

A histogram can be defined as:

• A)a chart whose bar widths show the cumulative frequencies of data values.
• B)a chart whose bar widths indicate class intervals and whose areas indicate frequencies.
• C)a chart whose bar widths show class intervals and whose heights indicate frequencies.
• D)a chart whose bar heights represent the value of each data point.

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Definitions:

Equilibrium Price

The market price at which the quantity of a good supplied equals the quantity demanded, leading to a stable market condition where there is no tendency for the price to change.

Game Theory

A branch of economics and mathematics that studies strategic interactions among rational decision-makers.

Strategic Situations

Scenarios in which individuals or organizations must make decisions that consider the actions and reactions of other participants.

Price-Fixing

An illegal agreement among competitors to set prices at a certain level, rather than allowing them to be determined naturally by market forces.