A Sample of Five Full Service Gasoline Stations, Each Carrying

question 111

Short Answer

A sample of five full service gasoline stations, each carrying three grades of gasoline, was taken and the price per liter (to the nearest cent) was recorded for each grade of gasoline, as shown in the table below. What is the mean price of Unleaded Plus gas? _______.

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Definitions:

Progressive Tax

A tax system in which the tax rate increases as the taxable amount increases, placing a higher burden on wealthier individuals.

Tax Incidence

The ultimate distribution of a tax burden.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Tax Shifting

Occurs when households can alter their behavior and do something to avoid paying a tax.