Provide an Appropriate Response

question 13

Multiple Choice

Provide an appropriate response.
-Eleven high school teachers were asked to give the number of students in their classes. The sample data follows. Would any of the class sizes be considered an outlier? Answer Yes or No.
36, 31, 30, 31, 20, 19, 24, 34, 21, 28, 24

• A) No
• B) Yes

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Definitions:

Supply Curve

A graphical representation showing how the quantity of a good that producers are willing to supply changes as the price of the good changes.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a particular time frame.

Supply Price

The minimum price at which a producer is willing to sell a good or service, influenced by production costs and market conditions.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at each price level.