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Business Math Ch. 8
Vocabulary
| Question | Answer |
|---|---|
| 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 |