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Provide an appropriate response.
-The numbers of home runs that Barry Bonds hit in the first 18 years of his major league baseball career are
listed below. Find the mean and median number of home runs. Round the mean to the nearest whole number.
Which measure of central tendency- the mean or the median- best represents the data? Explain your
reasoning.
Input
The resources used in the production process, such as labor, raw materials, and capital.
Returns To Scale
The change in output resulting from a proportional change in all inputs (factors of production) in the production process.
Production Function
A mathematical model that describes the relationship between inputs used in production and the resulting output of goods or services.
Input
Resources or factors used in the production process of goods and services, such as labor, capital, and materials.
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