A Local Ice Cream Shop Hand Scoops Each of Its

question 77

Multiple Choice

A local ice cream shop hand scoops each of its ice cream cones.The cones vary in weight from 120 grams to 216 grams with a mean of 181 grams and a standard deviation of 34 grams.The quartiles and median weights are 146,244,and 202 grams. Is the distribution symmetric,skewed to the left,or skewed to the right? Explain.

• A)Skewed to the left; mean higher than median.
• B)Skewed to the right; mean higher than median.
• C)Symmetric; mean lower than median.
• D)Skewed to the right; mean lower than median.
• E)Skewed to the left; mean lower than median.

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Definitions:

Increase Profits

Increase Profits means enhancing the financial gain left after subtracting the expenses from the total revenues, aiming for a higher bottom line through various strategies like reducing costs or increasing sales.

Lower Total Costs

Achieving a reduction in the aggregate amount of expenditures necessary for production or provision of services.

Price Discrimination

The strategy of selling the same product to different customers at different prices, based on their willingness to pay.

Deadweight Loss

Deadweight Loss is the loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved, often due to market distortions like taxes or subsidies.