The Number of Hours Worked Per Week for a Sample

question 88

Essay

The number of hours worked per week for a sample of ten students is shown below.
a.Determine the median and explain its meaning.
b.Compute the 70th percentile and explain its meaning.
c.What is the mode of the above data? What does it signify?

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Definitions:

Liability

The state of being responsible for something, especially in terms of a legal or financial obligation.

Right of Recourse

The legal right to demand compensation or payment from a third party after fulfilling an obligation, especially in financial transactions.

Discharge

(1) The termination of an obligation, such as occurs when the parties to a contract have fully performed their contractual obligations. (2) The termination of a bankruptcy debtor’s obligation to pay debts.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, to the person possessing it.