Being an Entrepreneur, Steve Decides to Open His Own Custom

question 16

Multiple Choice

Being an entrepreneur, Steve decides to open his own custom flower shop in an area and began to look for possible locations for his store. He just can't play the corporate career game and wants to "just-do-it-yourself." He researches the zip codes in his area and finds the following information: $\begin{array}{lllr}\text { Market Segment }&\text { Location Coordinates }&&\text { Potential Number of Customers }\\&X&Y\\\text { A } & 4 & 8 & 80,000 \\\text { B } & 6 & 3 & 90,000 \\\text { C } & 10 & 7 & 120,000\end{array}$
Identify the TRUE statement about the best preliminary location (i.e., the center of gravity) for the possible store location.

• A) The x-axis and the y-axis are less than 5.0.
• B) The x-axis is less than 7.0, and the y-axis is more than 7.0.
• C) The x-axis is more than 7.0, and the y-axis is less than 7.0.
• D) The x-axis and the y-axis are more than 7.0.

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Definitions:

Mean

The average value of a set of numbers, calculated by dividing the sum of all the values by the number of values.

Mode

The most common number found within a given collection of data.

Frequency Distributions

A summary of data showing the number of observations in each of several non-overlapping categories or bins.

Numerical Data

Information that is quantifiable and can be assigned numerical values, used in statistical analysis.