For Questions , Use the Following Narrative

question 11

Essay

For Questions , use the following narrative
Narrative: Acceptance rates
A random sample of 50 colleges and universities in the U.S.was selected, and acceptance rates were recorded for each school (percentage of student applicants who were accepted to the school).The following five-number summary was calculated for this data set: lowest = 17; lower quartile = 25.75; median = 36; upper quartile = 47.75; highest = 67.
-{Acceptance rates narrative} Describe the center of this data set in words a prospective student would understand.

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Definitions:

Products

Goods or services offered by businesses to satisfy consumer needs or wants.

Marketing Factors

Variables that influence consumers' purchasing decisions and affect marketing strategies of companies.

Marketing

The business process of identifying, anticipating, and satisfying customers' needs through the creation and exchange of value.

Gray Market

Pertains to the trade of goods through distribution channels that are legal but unintended by the original manufacturer.