Exhibit 2-7

question 94

Multiple Choice

Exhibit 2-7.Thirty students at Eastside High School took the SAT on the same Saturday.Their raw scores are given next. Refer to Exhibit 2-7.Consider a frequency distribution of the data that groups the data in classes of 1400 up to 1600,1600 up to 1800,1800 up to 2000,and so on.What is the approximate relative frequency of students who scored more than 1600 but less than 1800?

• A)0.17
• B)0.23
• C)0.40
• D)0.77

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Definitions:

Output

The total amount of goods or services produced by a company or industry, often measured over a specific period.

Minimum Price

A price floor set by the government, below which a product cannot be sold legally, aiming to ensure fair prices for producers.

Short Run

The short run is a time period in economics during which at least one input is fixed, limiting the ability of the economy or firm to adjust its output levels.

Market Price

The price of a good or service as determined by supply and demand in the open market.