The Sample Data Below Shows the Number of Hours Spent

question 81

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 75^th percentile of the data is the closest to ________.

• A) 3 hours
• B) 4.5 hours
• C) 8.5 hours
• D) 10 hours

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Definitions:

Productivity

The measure of how efficiently goods and services are produced, often evaluated as output per unit of input.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a person, family, or group in a society.

Long Run

A period sufficient for all adjustments to be made, including prices, wages, and resource allocations, in response to economic conditions.

Industrial Policy

Strategies employed by a government to boost the economic growth of its industrial sectors.