A Commuter Travels Many Miles to Work Each Morning

question 60

Multiple Choice

A commuter travels many miles to work each morning.She has timed this trip 5 times during the last month.The time (in minutes) required to make this trip was 38, 33, 36, 47, and 41.What is the variance for these sample data?

• A)28.5
• B)11
• C)22.8
• D)5.34
• E)4.77

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Definitions:

Positive-Sum Game

A situation in economic transactions where all participants can benefit, or the sum of the gains and losses is positive.

Payoff Matrix

A table that displays the potential outcomes for each player in a game, given the choices of all players.

Gains and Losses

The difference between the amount earned and the amount spent in buying, operating, or producing something.

Duopoly

A market structure characterized by two producers or sellers dominating the market.