Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180 and $1,420. These figures are referred to as:
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A. B. C. D. E.B
Data or observations that have not been organized in any form are called raw data.
The figures given, $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180, and $1,420, represent the monthly commissions of first-year insurance brokers. These figures are referred to as a frequency distribution.
A frequency distribution is a table that displays the values of a variable (in this case, monthly commissions) and the corresponding frequency or count of how often each value occurs. It provides a summary of the data by organizing it into different categories or classes and showing the number of occurrences in each category.
In this case, the values of monthly commissions are the data points, and the frequency distribution would list these values along with the count of how many times each value appears. For example:
$1,180 - 1 occurrence $1,270 - 1 occurrence $1,310 - 1 occurrence $1,380 - 1 occurrence $1,410 - 1 occurrence $1,420 - 1 occurrence $1,570 - 1 occurrence $1,680 - 1 occurrence
Each value appears only once in this dataset, indicating that there are no repeated values. Therefore, the frequency distribution would simply list each value with a frequency of 1.
Option C, frequency distribution, is the correct answer in this case as it accurately describes the provided figures.