The Price Per Gallon of Gas at Various Gas Stations

question 45

Multiple Choice

The price per gallon of gas at various gas stations around town is listed in the table below. What is the median price per gallon? (Rounded to the nearest hundredth)

• A) $2.88
• B) $2.78
• C) $3.02
• D) $2.42
• E) $2.56

---

Definitions:

Economy Of Scale

The cost advantage achieved by companies when production becomes efficient, as fixed costs are spread out over more units of output.

High Shrinkage

A term used in retail to describe a higher than normal reduction in inventory due to factors like theft, damage, or errors.

Prices

A term referring to the amount of money required to purchase a good or service; it is determined by factors such as demand, supply, and production costs.

Reasonable Product

A product considered to meet a satisfactory standard in terms of quality, functionality, and price.