Twenty Students Were Randomly Selected from a Business Statistics Course

question 88

Short Answer

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 90^th percentile?

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Definitions:

Loss

A situation in which a business's expenses exceed its revenues over a specific period, resulting in negative profit.

Price Discrimination

A pricing strategy where a company charges different prices for the same product or service in different markets or to different segments of consumers, based on willingness to pay.

Product Differentiation

The method of differentiating a product or service from those available in the market to enhance its appeal to a specific target audience.

Barriers To Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter and operate in a market.