Exhibit 2-6

question 29

Multiple Choice

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 on house prices will be grouped into five classes.The width of the classes for a frequency distribution or histogram is closest to ______.

• A)15
• B)20
• C)25
• D)30

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Definitions:

Game Sales

The total revenue generated from the sale of video games.

Weighted Average Model

A calculation that assigns different weights to various data points or elements, providing a means to account for their varying levels of importance.

Exponential Smoothing Constant

A parameter in exponential smoothing methods for forecasting that controls the degree to which recent observations are weighted more heavily than older observations.

Exponential Smoothing Model

A time series forecasting method that applies weighted averages of past observations, giving greater weight to more recent data, to predict future values.