A Pie Chart Uses Relative Frequencies to Summarize the Data

question 46

True/False

A pie chart uses relative frequencies to summarize the data so including the sample size is not important.

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Definitions:

Inventory

The goods and materials a business holds for the ultimate goal of resale or repair.

Benchmarking

The act of measuring a company's operations and performance indicators against the industry's highest standards or optimal practices.

Industry Average

The standard or average benchmark of performance, costs, or pricing for businesses within a specific industry.

Competitive Average

A benchmarking tool that compares a company's performance metrics with those of its competitors to identify areas for improvement.