THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 125

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A small accounting office is trying to determine its staffing needs for the coming tax season.The manager has collected the following data: 46,27,79,57,99,75,48,89,and 85.These values represent the number of returns the office completed each year over the entire nine years it has been doing tax returns.
-For this data,what is the median number of tax returns completed each year?

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Definitions:

Average Total Cost

The cost of producing all items, when divided by the total amount of items produced, shows the cost for each unit produced.

Average Variable Cost

The cost of variable inputs (e.g., raw materials and labor) divided by the total output, showing how variable costs change with output levels.

Market Price

The existing rate at which a service or asset is available for purchase or sale in the market.

Marginal Cost

The financial charge for creating one additional unit of a product or service.