Find the Range for the Given Data $\begin{array} { l l l l l } 7 & 16 & 3 & 13 & 12\end{array}$

question 64

Multiple Choice

Find the range for the given data.
-Jeanne is currently taking college economics. The instructor often gives quizzes. On the past five quizzes, Jeanne got the following scores: $\begin{array} { l l l l l } 7 & 16 & 3 & 13 & 12\end{array}$
Compute the range.

• A)13
• B)5
• C)16
• D)3

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Definitions:

Trade-in Allowance

The amount credited to the buyer by the seller for a traded-in asset toward the purchase of a new asset.

Cost Basis

The original value or purchase price of an asset or investment, used to calculate capital gains or losses for tax purposes.

Accumulated Depreciation

The total depreciation costs applied to a fixed asset from the time of its acquisition.

Fair Market Value

The price at which a willing buyer and a willing seller, both possessing reasonable knowledge of relevant facts, would exchange an asset.