How Is the Relative Frequency of a Class Computed

question 131

Multiple Choice

How is the relative frequency of a class computed?

• A) by dividing the frequency of the class by the number of classes
• B) by dividing the frequency of the class by the class width
• C) by dividing the frequency of the class by the total number of observations in the data set
• D) by dividing the frequency of the class by one less than the total number of observations in the data set

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Definitions:

Laissez-faire Policies

An economic policy of non-intervention where private parties are free from government restrictions, tariffs, and subsidies.

Classical Economists

Economists from the late 18th and early 19th centuries who believed in free markets, competition, and the self-regulating nature of economies.

Sticky Wages

A situation in economics where wages do not adjust quickly to changes in labor market conditions, often leading to unemployment or surplus of labor.

Business Expectations

Business expectations relate to the outlooks and forecasts that businesses have regarding future economic conditions, which can influence their strategic planning and operations.