Moe's Department Store Counted the Number of Customers Entering the Store

question 3

Short Answer

Moe's Department Store counted the number of customers entering the store for the week. The results showed 1,150, 1,281, 550, 900, 1,150, 550, and 1,150. What is the mode?

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Definitions:

Certification

The process of officially recognizing someone as having met certain standards, often related to education, skills, or competencies.

Long Run

A time frame where all production elements and expenses can change, providing businesses the flexibility to adapt to market fluctuations.

Short Run

A period in which at least one input in the production process is fixed, limiting the ability to adjust the production level.

Short Run

A period in economics during which some factors of production or inputs are fixed, influencing decisions on production and costs.