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A sample of 9 mothers was taken. The mothers were asked the age of their oldest child. You are given their responses below.
a. Compute the mean.
b. Compute the variance.
c. Compute the standard deviation.
d. Compute the coefficient of variation.
e. Determine the 25th percentile.
f. Determine the median
g. Determine the 75th percentile.
h. Determine the range.
Historical Benchmark
A reference point derived from historical data against which current performance or achievements can be measured or compared.
Gain-Sharing Plan
A performance-driven compensation strategy where employees receive bonuses based on the company's savings or gains from improved productivity.
Labour Usage Ratios
Measures that compare the amount of labor used to the outputs achieved, helping businesses assess efficiency.
Financially Funded Plans
Employer-sponsored programs designed to provide employees with financial benefits, such as pension plans or health insurance, which are supported by the company's funds.
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