Refer to the Following Chart Showing a Distribution of Exporting

question 10

Multiple Choice

Refer to the following chart showing a distribution of exporting firms: For the distribution above, what is the midpoint of the class with the greatest frequency?

• A) $6 million
• B) $9.5 million
• C) $15.5 million
• D) The midpoint cannot be determined

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Definitions:

Sample Mean

The average value of a sample set from a population, often used as an estimate of the population mean.

Standard Deviation

A quantification of the level of diversity or variability in a collection of values, demonstrating how much the values differ from their average.

Tire Pressures

The measure of air pressure within a tire, typically measured in pounds per square inch (PSI) or bar, important for vehicle safety and efficiency.

Normal Distribution

A probability distribution that is symmetric about its mean, indicating that data near the mean are more frequent in occurrence.