A Pareto Chart Does Not Have Which of the Following

question 54

Multiple Choice

A Pareto chart does not have which of the following properties?

• A) frequencies displayed by the heights of vertical bars
• B) frequencies arranged from highest to lowest
• C) quantitative variable on the horizontal axis
• D) classes of data are categorical

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Definitions:

Trade

The act of buying, selling, or exchanging goods and services between people or entities.

Economic Outcome

The result or consequence of economic activities and policies on an economy's overall condition.

Marginal Rate Of Substitution

The speed at which a consumer is able to forfeit a certain quantity of one product in favor of another product, whilst retaining an equivalent level of satisfaction.

Efficiency

Efficiency in an economic context refers to the optimal production and allocation of resources to maximize the satisfaction of needs and wants with minimal waste.