Twenty Students Were Randomly Selected from a Business Statistics Course

question 141

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 are the outer fences?

• A)17,20
• B)-1,20
• C)3.5,15.5
• D)12.5,15.5
• E)4.5,9.0

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Definitions:

Income Taxes

Taxes levied on both earned income (wages, salaries) and unearned income (dividends, interest), imposed by government authorities.

Sunk Cost

A cost that has already been incurred and cannot be recovered, and should not affect future investment or spending decisions.

Capital Budgeting

The process used by businesses to evaluate and prioritize investments in long-term assets and projects based on their potential returns.

NPV

Net Present Value; a financial metric used to evaluate the profitability of an investment, calculated by subtracting the present value of cash outflows from the present value of cash inflows over a period of time.