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Business Math Ch. 8

Vocabulary

QuestionAnswer
All persons who are working or looking for work. Labor Force
A rise in the prices of goods and services. Inflation
A measure of how much a dollar buys compared to what it could buy during some base period. Purchasing Power of the Dollar
A period in time with which comparisons are made. Base Period
A graph that uses vertical or horizontal rectangles to show how parts relate to the whole and to each other. Rectangle Graph
A graph on which lines connect dots to show values. Line Graph
A graph with bars running to the left and right. Horizontal Bar Graph
A graph with bars running up and down. Vertical Bar Graph
A few items selected by chance from the whole group. Random Sample
A way of mathematically predicting the change that an event will occur. Probability
A table of numbers arranged in order and with the frequency, or how often they occur, tallied. Frequency Distribution
The difference between the highest and lowest numbers in a set of data. Range
The number that occurs most frequently in a group of numbers. Mode
The middle number in a group of numbers arranged in order. Median
The sum of the numbers divided by the number of items; arithmetic average; a measure of central tendency. Mean
A circle showing how parts relate to the whole and to each other. Circle Graph
A single number used to measure a change in consumer prices compared to a base year. Consumer Price Index (CPI)
The percentage of the total labor force that is not working. Unemployment Rate
Created by: acopper
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