The Amount of Time That a Sample of Students Spends

question 7

Short Answer

The amount of time that a sample of students spends watching television per day is given below.
a.Compute the mean.
b.Compute the median.
c.Compute the standard deviation.
d.Compute the 75th percentile.

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Definitions:

Marginal Analysis

Marginal Analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.

Relevant Costs

Only those costs that will be affected by a decision or action and therefore should be considered in decision-making.

Activity

In economic terms, refers to actions or engagements, such as production or consumption, within an economy.

Marginal Cost

The cost associated with the production of an extra unit of a product or service.