Andrew Asked Seven of His Friends How Many Cousins They $$\begin{array} { l l l l l l l } 15 & 12 & 5 & 14 & 4 & 4 & 6\end{array}$$

question 126

Multiple Choice

Andrew asked seven of his friends how many cousins they had. The results are listed below. Find the mean number of cousins. $$\begin{array} { l l l l l l l } 15 & 12 & 5 & 14 & 4 & 4 & 6\end{array}$$

• A) 10.1 cousins
• B) 10 cousins
• C) 8.6 cousins
• D) 8.1 cousins

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Definitions:

Opportunity Cost

The cost of choosing one option over another, representing the value of the foregone alternative.

Marginal Cost

The financial outlay involved in producing an additional unit of a product or service.

Resources

The total means available for economic and political development, such as minerals, labor, and capital.

Pareto Optimal

A situation in economics where resources are allocated in the most efficient manner, making it impossible to reallocate without making at least one individual worse off.