Which of the Following Data Classification Methods Selects Class Break

question 6

Multiple Choice

Which of the following data classification methods selects class break levels by taking the complete range of values and dividing by the desired number of classes?

• A)Natural Breaks
• B)Equal Interval
• C)Standard Deviation
• D)Quantiles

---

Definitions:

Technological Change

The process of innovation and development of new methods, products, or processes, driving efficiency and economic growth.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, making them consistent regardless of business activity levels.

Short Run

A period of time in which at least one input, such as plant size, is fixed and cannot be changed by the firm, limiting its capacity to adjust output levels.

MC = P

A condition in economic theory where Marginal Cost (MC) equals Price (P), indicating optimal production levels where no additional units should be produced.