The Sample Data Below Shows the Number of Hours Spent

question 12

Multiple Choice

The sample data below shows the number of hours spent by five students over the weekend to prepare for Monday's Business Statistics exam. (See the Excel Data File.) The mean and the median of the numbers of hours spent by the five students are ________.

• A) 2 hours and 3 hours, respectively
• B) 3 hours and 5 hours, respectively
• C) 5 hours and 2 hours, respectively
• D) 5 hours and 3 hours, respectively

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Definitions:

Federal Reserve

The central banking system of the United States, which regulates the U.S. monetary and financial system.

Clearing of Checks

The process by which banks exchange checks or drafts drawn on each other and settle the differences to facilitate the actual transaction the check represents.

Currency in Circulation

Refers to the physical money, including coins and paper money, that is actively used and exchanged in an economy.

Bank Checking Accounts

Banking services that allow customers to deposit, withdraw, and write checks against funds they have in the account.