The Following Data Represent the Total Price, in Dollars, of 20

question 56

Multiple Choice

The following data represent the total price, in dollars, of 20 randomly-selected gasoline purchases at a certain convenience store.
$\begin{array}{llllllllll}\hline 31.87 & 41.83 & 24.81 & 29.28 & 46.20 & 37.55 & 32.13 & 33.27 & 49.22 & 30.25 \\40.76 & 38.68 & 25.97 & 23.11 & 31.59 & 41.16 & 47.31 & 43.15 & 37.85 & 47.33 \\\hline\end{array}$
Find the median price for these purchases.

• A) $37.70
• B) $26.11
• C) $60.14
• D) $36.67

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Definitions:

Store Of Value

An asset that can be saved, retrieved, and exchanged in the future without significantly losing value.

Currency

The system of money in common use in a country, which facilitates the exchange of goods and services.

Liquid Asset

An asset that can easily be converted into cash in a short period without losing value.

Function Of Money

Refers to the main roles of money in an economy, which include being a medium of exchange, a unit of account, a store of value, and sometimes, a standard of deferred payment.