Twenty Students Were Randomly Selected from a Business Statistics Course

question 159

Multiple Choice

Twenty students were randomly selected from a business statistics course and were asked to report the number of times that they had eaten a meal at the university's cafeteria within the past month. Below are the values reported:
7, 8, 10, 11, 8, 6, 10, 9, 9, 8, 13, 12, 8, 11, 11, 14, 8, 7, 10, 12

-What is the first quartile?

• A)7
• B)10.35
• C)12.1
• D)11
• E)8

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Definitions:

Saving Rate

The portion of income that is not spent on consumption but rather saved or invested.

Double Taxation

The imposition of taxes on the same income, assets, or financial transaction at two different levels of government, such as corporate income being taxed both to the corporation and to the shareholders when distributed as dividends.

Economic Growth

A rise in the production of goods and services per capita over a certain time frame.

Saving Rate

The proportion of income that is not spent on consumption but is instead saved by individuals or entities.