A Data Set Contains the Observations 5, 3, 6, 1 $\sum x^ { 2 } .$

question 14

Multiple Choice

A data set contains the observations 5, 3, 6, 1, 4. Find $\sum x^ { 2 } .$

• A) 87
• B) 361
• C) 38
• D) 19

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Definitions:

Consumer Surplus

The difference in the total cost that consumers are prepared and able to cover for a product or service and the cost they actually cover.

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Consumer Surplus

The distinction between what customers can and are ready to pay for a product or service and the amount they end up paying.

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