The Lengths of the Reigns of 50 British Monarchs (In

question 19

Multiple Choice

The lengths of the reigns of 50 British monarchs (in years) are summarized with the following five-number summary: xmin = 0, Q1 = 6, = 15.5, Q3 = 24, xmax = 63, = 18.92
If the maximum of 63 years is accidentally recorded as 630 years, how will this affect the mean?

• A) The mean will increase.
• B) The mean will decrease.
• C) The mean will be unchanged.
• D) It is impossible to determine without having the complete data set.

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Definitions:

Zero

Zero is a numerical value representing the absence of any quantity or magnitude; it plays a central role in mathematics and economics.

Corporate Form

A legal structure for a business, recognized by law as separate from its owners, with its own rights, privileges, and liabilities.

Business Revenues

The income generated from the sale of goods and services before any costs or expenses are deducted.

Economic Losses

The difference when total costs exceed total revenues, indicating a negative outcome from business activities.