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Exhibit 2-6

question 40

Multiple Choice

Exhibit 2-6.The following data represent the recent sales price (in $1,000s) of 24 homes in a Midwestern city. $Exhibit 2-6.The following data represent the recent sales price (in $1,000s) of 24 homes in a Midwestern city. Refer to Exhibit 2-6.Suppose the data is grouped into five classes,and one of them will be 115 up to 140 - that is,{x;115 ≤ x < 140}.The relative frequency of this class is _____. A) 6/24 B) 7/24 C) 6 D) 7$ Refer to Exhibit 2-6.Suppose the data is grouped into five classes,and one of them will be "115 up to 140"- that is,{x;115 ≤ x < 140}.The relative frequency of this class is _____.

Definitions:

Income Tax

A tax imposed by a government on the financial income generated by individuals or entities within its jurisdiction.

Plant Capacity

The maximum level of output that a company can sustain to produce in a given period under normal conditions.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.

Sunk Cost

A cost that has already been incurred and cannot be recovered.