Applicants' Grades The Grades of a Sample of 10 Applicants,selected at Random

question 58

Short Answer

Applicants' Grades
The grades of a sample of 10 applicants,selected at random from a large population,are 71,86,75,63,92,70,81,59,80,and 90. ​ ​
-{Applicants' Grades Narrative} Compute the sample variance.

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Definitions:

AVC Curve

The Average Variable Cost curve, showing the per-unit variable cost of production at different levels of output.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Fizzle & Sizzle

An informal term indicating the contrasting outcomes of events or products; "fizzle" for failing and "sizzle" for succeeding amazingly.

Implicit Cost

The opportunity cost associated with a firm's use of resources that it already owns, representing the income the firm foregoes by using these resources in its current capacity.