A Commuter Travels Many Kilometres to Work Each Morning

question 67

Multiple Choice

A commuter travels many kilometres to work each morning.She has timed this trip 5 times during the last month.The time (in minutes) required to make this trip was 34, 39, 41, 35, and 41.The modal time required for this trip was ___.

• A)39
• B)41
• C)37.5
• D)38
• E)35

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Definitions:

Investment Dollars

The amount of money committed to investments with the expectation of generating a future return.

Discount Rate

The interest rate used to discount future cash flows to their present value, reflecting the time value of money.

Annual Cost Savings

The reduction in total costs achieved on an annual basis through efficiency improvements, cost-cutting measures, or operational changes.

Investment Cost

The total amount of money spent on acquiring or investing in assets, including initial setup, purchasing, and any other related costs.