In 2002 Data Were Collected on the Percent of People

question 1

Multiple Choice

In 2002 data were collected on the percent of people in the U.S. not covered by
Health insurance. Summary statistics and a histogram for these data are shown below.
The IQR for these data is $$\begin{array}{l}\begin{array} { | c | c | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } & \text { Mean } & \text { SD } \\\hline 7.9 & 10.8 & 13.4 & 16.7 & 25.8 & 13.9 & 3.6 \\\hline\end{array}\\\end{array}$$

• A) 16.7 %
• B) 5.9 %
• C) 17.9 %
• D) 3.6 %
• E) 13.4

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Definitions:

Average Variable Costs

The total variable costs (e.g., labor, materials) divided by the quantity of output produced, showing the variable cost per unit of output.

Workers

Individuals engaged in physical or mental labor to produce goods or provide services in exchange for wages.

Units

Basic quantities of measurement or items in inventory or production.

Average Cost

The total cost of production divided by the number of units produced, representing the cost per unit.