For the Data Set Below, Find the IQR $\begin{array} { l l l l l l l l l l l } \hline 63 & 74 & 69 & 69 & 65 & 67 & 77 & 60 & 79 & 65 & 73 \\\hline\end{array}$

question 48

Multiple Choice

For the data set below, find the IQR.
$\begin{array} { l l l l l l l l l l l } \hline 63 & 74 & 69 & 69 & 65 & 67 & 77 & 60 & 79 & 65 & 73 \\\hline\end{array}$

• A)65
• B)74
• C)19
• D)9

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Definitions:

Reservation Price

The maximum price a buyer is willing to pay or the minimum price a seller is willing to accept for a good or service.

Utility Function

A mathematical representation of how different bundles of goods or services affect an individual's level of satisfaction or happiness.

Reservation Price

The maximum price a consumer is willing to pay for a good or service, beyond which they will not make a purchase.

Utility Function

A model that assigns numerical values to different bundles of goods, reflecting the satisfaction or utility these bundles provide to a consumer.