Find the Mean of the Data Summarized in the Given

question 89

Multiple Choice

Find the mean of the data summarized in the given frequency distribution.
-The manager of a bank recorded the amount of time each customer spent waiting in line during peak business hours one Monday. The frequency distribution below summarizes the results. Find the mean waiting time. Round your answer to one decimal place.
$$\begin{array} { r | r } \begin{array} { c } \text { Waiting time } \\\text { (minutes) }\end{array} & \begin{array} { c } \text { Number of } \\\text { customers }\end{array} \\\hline 0 - 3 & 14 \\4 - 7 & 13 \\8 - 11 & 14 \\12 - 15 & 8 \\16 - 19 & 6 \\20 - 23 & 3 \\24 - 27 & 3\end{array}$$

• A) 9.7 min
• B) 13.5 min
• C) 9.5 min
• D) 8.7 min

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Definitions:

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate inflation.

Economy's Production

The total output of goods and services produced by a country's economy over a specific period.

Goods And Services

The output produced by economic activities which are either tangible products or intangible acts benefiting individuals or society.

Price Level

A metric that represents the typical prices of goods and services in an economy at a given time.