Data on Weekday Exercise Time (In Minutes) for 20 Males

question 34

Multiple Choice

Data on weekday exercise time (in minutes) for 20 males are shown below. Compute the interquartile range. ​
Male-Weekday ​

• A)56.6
• B)58.6
• C)64.75
• D)62.25
• E)67.5

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to spend for a particular good or service.

Consumer Surplus

The gap between the aggregate amount that buyers are willing and able to allocate for a good or service and the total sum they really pay.

Consumer Surplus

The variance between consumers' potential payment for a good or service and their actual expenditure.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating sensitivity to price changes.