Provide an Appropriate Response

question 140

Short Answer

Provide an appropriate response.
-The one way distances from work (in miles) of 30 employees are listed below. Find the interquartile range of the 30 distances listed below. $$\begin{array} { l l l l l l l l l l } 25 & 25 & 26 & 26.5 & 27 & 27 & 27.5 & 28 & 28 & 28.5 \\29 & 29 & 30 & 30 & 30.5 & 31 & 31 & 32 & 32.5 & 32.5 \\33 & 33 & 34 & 34.5 & 35 & 35 & 37 & 37 & 38 & 38\end{array}$$

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Definitions:

Economists

Experts who study, describe, and predict patterns relating to the economy, including aspects of production, consumption, and the distribution of goods and services.

Diversity Of Products

Refers to the variety of different items a company offers to meet the varied preferences of its consumers.

Monopolistic Competitor

A firm operating in a market structure where many companies sell products that are similar but not identical, allowing for significant differentiation and some degree of market power.

Product Differentiation

The marketing and production strategy of making a product distinguishable from other similar products in the market by emphasizing its unique features.