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Instruction 2.5
The Stem-and-Leaf display below contains data on the number of months between the date a civil suit is filed and when the case is actually adjudicated for 50 cases heard in the Supreme Court of Victoria.
Note: 1L means the 'low teens' - 10, 11, 12, 13, or 14; 1H means the 'high teens' - 15, 16, 17, 18, or 19; 2L means the 'low twenties' - 20, 21, 22, 23, or 24, etc.
-Referring to Instruction 2.5,if a frequency distribution with equal-sized classes was made from this data,and the first class was '0 but less than 10',the class mid-point of the third class would be _________.
Profit
The profit achieved when the revenue from a business operation surpasses the expenses, costs, and taxes required to maintain it.
Production Function
A mathematical model detailing how inputs are converted into outputs in the production process.
Labor
Human work, encompassing both physical and mental tasks, dedicated to the manufacturing of goods and services.
Output
The amount of goods or services produced by a company, industry, or country over a certain period.
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