On What Does the Total Area of the Bars in a Relative

question 16

Multiple Choice

On what does the total area of the bars in a relative frequency histogram depend?

• A) the sample size
• B) the number of bars
• C) the width of each bar
• D) the population size

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Definitions:

Net Change

Net change refers to the difference in the closing price of a stock, bond, commodity, or index on a given day compared to the closing price on the previous trading day.

Utility Function

A mathematical representation of how different bundles of goods are ranked according to their utility or satisfaction provided to the consumer.

Equivalent Variation

A measure in economics that indicates the amount of money a consumer would need to reach their initial utility level after a price change.

Price Change

A variation in the cost of goods or services over time, which can be an increase or decrease.