A Sample Was Taken of the Salaries of Four Employees

question 37

Multiple Choice

A sample was taken of the salaries of four employees from a large company.The following are their salaries (in thousands of dollars) for this year: 33, 36, 41, and 47.The variance of their salaries is approximately

• A)28.19
• B)75.59
• C)37.58
• D)6.13
• E)5.31

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Definitions:

Competitive Level

Competitive level refers to the intensity of rivalry among firms in a market, affecting pricing, innovation, and market strategy.

Resale Price Maintenance

A practice where a manufacturer and its distributors agree on the price at which a product should be resold to the public.

Controversial

Something that causes disagreement or debate due to differing opinions or interpretations.

Cartel

A coalition of manufacturers or suppliers aiming to uphold high price points and curtail competitive forces.