The Company Financial Officer Was Interested in the Average Cost

question 61

Multiple Choice

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results. $3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What is the 65th percentile?

• A) $1,446.50
• B) $2,617.00
• C) $3,445.00
• D) $3,587.00
• E) $4,212.00

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Definitions:

Equilibrium Output

The level of production at which the quantity of goods produced equals the quantity of goods demanded.

Keynesian Approach

An economic theory proposing that government intervention through fiscal policies (spending and taxes) can affect the overall level of economic activity, stabilizing the economy.

Fiscal Policy

Government strategies used to influence economic conditions through spending and taxation.

Budget Deficits

The situation where a government's expenditures exceed its revenues, leading to the accumulation of debt.