A Sample of Single Persons Receiving Social Security Payments Revealed

question 70

Multiple Choice

A sample of single persons receiving Social Security payments revealed these monthly benefits: $826,$699,$1,087,$880,$839,and $965. How many observations are below the median?

• A)1
• B)2
• C)3
• D)3.5

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Definitions:

Economic Decisions

The choices made by individuals, households, or organizations regarding the allocation of resources and the distribution of goods and services.

Purposeful

Refers to actions undertaken with a specific goal or intention in mind.

Spontaneous

Occurring without external cause or premeditation, often resulting from a natural inclination or impulse.

Economic Generalization

Broad statements or principles about economic behavior that apply to different contexts and situations.