A Line Chart or Frequency Polygon Is Based on

question 46

Multiple Choice

A line chart or frequency polygon is based on

• A)the upper limits of each interval.
• B)the lower limits of each interval.
• C)the midpoint of each interval.
• D)any limit which the researcher selects.

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Definitions:

Total Revenue

The total amount of money a company receives from its sales of goods or services, calculated before any expenses are subtracted.

Relatively Elastic

Describes a situation in which the quantity demanded of a good or service changes significantly due to a change in its price.

Time Interval

A specific duration or period between two points or events in time.

Substitutes

Substitutes are goods or services that can replace each other in usage, providing consumers with alternative choices when purchasing.