Solve the Problem $\begin{array} { l l l l l l } 7.5 & 8.5 & 8.3 & 8.0 & 8.3 & 7.5 \end{array}$

question 46

Multiple Choice

Solve the problem.
-Bill kept track of the number of hours he spent exercising each week. The results for four months are shown below. Find the mean number of hours Bill spent exercising per week. Round your
Answer to the nearest tenth of an hour. $\begin{array} { l l l l l l } 7.5 & 8.5 & 8.3 & 8.0 & 8.3 & 7.5 \end{array}$
$\begin{array} { l l l l l l } 8.2 & 8.3 & 6.5 & 7.5 & 8.0 & 7.9 \end{array}$
$\begin{array} { l l l l l l } 7.4 & 8.5 & 8.5 & 7.8 & 8.3 & 8.2 \end{array}$

• A) \(8.2\) hours
• B) \(8.0\) hours
• C) \(7.5\) hours
• D) \(8.4\) hours

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Definitions:

Purely Competitive

A market structure characterized by a large number of small firms, identical products, easy entry and exit, and perfect information, leading to price taking behavior.

Market Price

The price at which a good or service is offered in the marketplace where demand meets supply.

Purely Competitive

A market structure characterized by many buyers and sellers, all of whom sell homogeneous products, with no single party able to influence the market price.

Output Quantity

The amount of goods or services produced by a company or sector within a specific period.