In a Survey, 26 Voters Were Asked Their Ages

question 30

Essay

In a survey, 26 voters were asked their ages. The results are shown below. Construct a histogram to represent the data (with 5 classes beginning with a lower class limit of 19.5 and a class width of 10). What is the approximate age at the center? $$\begin{array} { c c c c c c c c c c c c c } 43 & 56 & 28 & 63 & 67 & 66 & 52 & 48 & 37 & 51 & 40 & 60 & 62 \\66 & 45 & 21 & 35 & 49 & 32 & 53 & 61 & 53 & 69 & 31 & 48 & 59\end{array}$$

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Definitions:

Forgone Interest

The potential interest earnings lost by choosing to invest capital in one option over an alternative that offers a higher return.

Short-Run Adjustment

The process by which businesses alter their production levels or inputs in response to short-term changes in market conditions.

Local Bakery

A place of business that specializes in producing and selling bread, cakes, and other baked goods to consumers within a specific area.

Plastics Industry

An economic sector involved in the production, distribution, and recycling of plastic materials and products.