Sherrie Is Interested in Average Monthly Sales for Smartphones in the United

question 56

Multiple Choice

Sherrie is interested in average monthly sales for smartphones in the United States. She found information on the Internet that gives annual sales, so she took the annual sales and divided it by twelve to get a monthly average. This is an example of _____.

• A) data mining
• B) data division
• C) data conversion
• D) data validation

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or activities, such as tobacco, alcohol, or gasoline, usually to raise revenue and discourage consumption of the taxed items.

Income Subsidy

Financial assistance provided by the government to individuals or groups to increase their income.

Indifference Curves

Graphical representations used in microeconomics to illustrate combinations of two goods between which a consumer is indifferent.

Optimal Utility

The highest level of satisfaction or benefit that a consumer can achieve given their resources.