The Following Class Intervals for a Frequency Distribution Were Developed

question 19

Multiple Choice

The following class intervals for a frequency distribution were developed to provide information regarding the starting salaries for students graduating from a particular school: Before data was collected, someone questioned the validity of this arrangement. Which of the following represents a problem with this set of intervals?

• A) there are too many intervals
• B) the class widths are too small
• C) some numbers between 18,000 and 30,000 would fall into two different intervals
• D) the first and the second interval overlap

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Definitions:

Skimming

A pricing strategy in which a high price is set for a new product to “skim” off customers willing to pay a premium before lowering the price to attract a broader market.

Demand-oriented

An approach to pricing, production, and marketing that focuses on the demand levels and preferences of consumers.

Approximate Price

An estimated cost given for a product or service, offering a ballpark figure that may not account for detailed specifics or potential changes.

Bundle

A marketing strategy that involves offering several products or services together as a combined package, usually at a lower price than they would cost individually.