A Data Set Contains Only Two Values

question 11

Multiple Choice

A data set contains only two values.The larger of the two values is 25.If the range is 12, what is the median value in the data set?

• A)12
• B)19
• C)20
• D)17
• E)10

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Definitions:

Machine Hours

A measure of production or work performed, calculated as the number of hours a machine is operated.

Lease

A contractual agreement where one party (the lessor) allows another party (the lessee) to use an asset for a specified period in exchange for payment.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the quantity of output produced, representing the average cost per unit of output.

Marginal Cost

The amount spent on producing an incremental unit of a product or service.