For Both Qualitative and Quantitative Data, What Is the Difference

question 18

Multiple Choice

For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency?

• A) The relative frequency equals the percent frequency multiplied by 100.
• B) The percent frequency equals the relative frequency multiplied by 100.
• C) As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set.
• D) As opposed to the percent frequency, the relative frequency is divided by the number of observations in the data set.

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Definitions:

Specific Profit Goal

A targeted financial benchmark that a business aims to achieve within a certain period through its operations.

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's production cost.

Total Unit Cost

The complete expense incurred to produce, store, and sell one unit of a product, including both fixed and variable costs.