The Following Data Represent the Recent Sales Price (In $1,000s)of

question 64

Multiple Choice

The following data represent the recent sales price (in $1,000s) of 24 homes in a midwestern city. Suppose the data are grouped into five classes,and one of them will be "115 up to 140." -that is,{x;115 ≤ x < 140}.The relative frequency of this class is ______.

• A) 6/24
• B) 7/24
• C) 6
• D) 7

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Definitions:

Taxes

Mandatory contributions levied on individuals or corporations by a government to fund public expenditures.

Keynesian Economics

An economic theory stating that government intervention can stabilize the economy through monetary and fiscal policies, especially during recessions.

Fiscal Policy

Government policies concerning taxation and spending to influence the economy, aiming at managing economic growth and stabilizing prices and employment.

Fiscal Policy

Government policy relating to taxation, government spending, and borrowing, aimed at influencing a country's economy.