Find the Mean for the Given Sample Data What Was the Mean Commission Earned? Round Your Answer to Specified

question 108

Multiple Choice

Find the mean for the given sample data. Unless otherwise specified, round your answer to one more decimal place thanthat used for the observations.
-The local Tupperware dealers earned these commissions last month: $$\begin{array} { l l l l } \$ 4369.67 & \$ 2209.58 & \$ 4197.89 & \$ 4736.53 \\\$ 4066.94 & \$ 4368.44 & \$ 2055.80 & \\\$ 4975.39 & \$ 1924.57 & \$ 4572.43 &\end{array}$$ What was the mean commission earned? Round your answer to the nearest cent.

• A)$3741.72
• B)$4684.66
• C)$4164.14
• D)$3747.72

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Definitions:

Deadweight Loss

signifies a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Purely Competitive

A purely competitive market is one in which there are many buyers and sellers, all trading homogeneous products, with no single entity able to control the market price.

Market

A virtual or physical place where buyers and sellers come together to trade goods, services, or financial instruments.

Allocative Efficiency

A state of the economy in which resources are allocated in a way that maximizes the overall benefit to society, with goods and services produced at their highest-valued uses.