In a Cumulative Relative Frequency Distribution, the Last Class Will

question 69

Multiple Choice

In a cumulative relative frequency distribution, the last class will have a cumulative relative frequency equal to

• A)one
• B)zero
• C)100
• D)None of the other answers are correct.

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Definitions:

Utility

A measure of satisfaction or happiness that a consumer receives from consuming goods and services.

Expected Utility Function

A concept in economics and decision theory that represents an individual's preference for a set of possible outcomes based on a probability distribution.

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A fixed amount of money that is guaranteed to be paid under specified conditions.

Lottery

A form of gambling involving the drawing of numbers at random for a prize, often regulated by governmental entities.