Exhibit 2-1 The Numbers of Hours Worked (Per Week) by 400 Statistics

question 109

Multiple Choice

Exhibit 2-1
The numbers of hours worked (per week) by 400 statistics students are shown below.
-Refer to Exhibit 2-1. The cumulative frequency for the class of 20 - 29

• A)is 200
• B)is 300
• C)is 0.75
• D)is 0.50

---

Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product demanded at those prices.

Unused Capacity

The portion of a system's or facility's total capacity that is not currently being utilized for production or services.

Price Point

The price level for a product or service that is perceived as fair or competitive by customers.

Chase Strategy

A management approach that adjusts production rates to align with fluctuations in demand, aiming to match output with demand and minimize inventory costs.