Use the Following to Answer Questions

question 3

Short Answer

Use the following to answer questions :
The waiting times (in minutes)for 11 customers at a supermarket are:
14 9 15 4 4 7 9 11 14 2 6
-The approximate value of the 60th percentile for these data is:

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Definitions:

Petty Cash Fund

A small pool of funds held for the purpose of settling small, miscellaneous bills immediately.

Miscellaneous Expense

Minor and irregular costs that do not naturally fit into other designated categories of expenses in financial accounting.

Incidentals

Minor or secondary expenses or costs that may occur in addition to the primary expenses.

Cash Burn

The rate at which a company spends its capital to finance overhead before generating positive cash flow from operations.