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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 65th percentile?
Straight-line Method
A method of calculating depreciation by evenly spreading the cost of an asset over its expected useful life.
Salvage Value
Salvage value refers to the predicted value an asset will have when it is sold after reaching the end of its usability.
Depreciation Expense
An accounting method that allocates the cost of a tangible asset over its useful life, reflecting the decrease in value over time.
Machinery Retirement
Machinery retirement refers to the process of removing fixed assets, specifically machinery, from operational use due to obsolescence, age, or inefficiency.
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