According to a Survey of the Top 10 Employers in a Major

question 51

Multiple Choice

According to a survey of the top 10 employers in a major city, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution.
-According to Chebyshev's Theorem,at least what percentage of measurements in a data set will be within two standard deviations of the mean?

• A)68%
• B)50%
• C)25%
• D)75%
• E)34%

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Definitions:

Equilibrium Quantity

The level of output whereby the amount of goods supplied is equal to the amount of goods demanded in the market.

Key Resource

A fundamental input or asset used by businesses to produce goods and services.

Product Supply Curve

A graphical representation showing the relationship between the quantity of goods that producers are willing to supply and the market price.

Shift To The Right

A term often used in economics to describe an increase in supply or demand, represented graphically by a curve moving to the right on a graph, indicating growth or expansion.