The Numbers of Rooms for 15 Home Recently Sold Were;

question 166

Multiple Choice

The numbers of rooms for 15 home recently sold were;
8, 8, 8, 5, 9, 8, 7, 6, 6, 7, 7, 7, 7, 9, 9
-What are the outer fences?

• A)5.5,9.5
• B)4,11
• C)8.5,9.5
• D)10,9.5
• E)5.5,10

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Definitions:

Total Cost

The overall expense incurred in the production of goods or services, combining both fixed and variable costs.

Average Total Cost

The total cost of production divided by the total output, indicating the average cost per unit of output.

Average Fixed Costs

The fixed expenses of a company or project divided by the number of units produced, decreasing as production increases.

Diseconomies of Scale

The phenomenon where an increase in production leads to higher average costs per unit, often due to inefficiencies associated with scale of operation.