The Local Amusement Park Was Interested in the Average Wait

question 111

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.) . They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes) : 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118. What is the median?

• A) 114.15
• B) 118
• C) 148
• D) 45
• E) 115.5

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Definitions:

Market Risk Premium

The incremental profit expected by an investor when they decide to hold a market portfolio with risk rather than secure, riskless assets.

Risk-Free Rate

The theoretical rate of return of an investment with zero risk, often represented by Treasury bills, serving as a benchmark for assessing the risk and return of other investments.

Good Economy

An economic state characterized by strong growth, low unemployment, and stable prices, reflecting overall health and prosperity.

Poor Economy

A situation characterized by low economic activity, high unemployment, and declining market conditions.