The Local Amusement Park Was Interested in the Average Wait

question 96

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.) . They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes) . 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the IQR?

• A) 103
• B) 5
• C) 28
• D) 30
• E) 7

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Definitions:

Market Share

represents the percentage of an industry's sales that is controlled by a particular company, indicating its strength in the market.

Superior-Quality

Refers to products, services, or materials that surpass standard quality measures in terms of performance, durability, and reliability.

Tying Agreements

Business practices where the sale of one product or service is conditioned on the purchase of another, potentially anticompetitive product or service.

Sherman Act

A landmark federal statute in the antitrust law of the United States, aimed at preserving fair competition by prohibiting monopolies and other practices that restrained trade.