Your company is doing market research to assess the feasibility of a new product.The market research team gathers pricing information of all the existing products that would compete with your company's product.The most expensive brand is priced at $22.95, and the least expensive one at $20.59.If a class width of 0.25 is used, then the number of classes will be
A)9
B)9.4
C)undetermined, so you can choose either 9 or 10
D)undetermined, so you must choose another class width
E)10

Question

Quizplus · Accepted Answer

To calculate the number of classes, you subtract the lowest value from the highest value and then divide by the class width. Here, (22.95 - 20.59) / 0.25 = 9.44. Since you can't have a fraction of a class, you round up to the nearest whole number, which is 10.

Your Company Is Doing Market Research to Assess the Feasibility