Instruction 2-7
the Stem-And-Leaf Display Below Contains Data on the Number

question 170

Short Answer

Instruction 2-7
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.
$$\begin{array} { l l } \text { Stem } & \text { Leaves } \\\hline \hline 1 \mathrm {~L} & 23444 \\1 \mathrm { H } & 7899 \\2 \mathrm {~L} & 22223455 \\2 \mathrm { H } & 678889 \\3 \mathrm {~L} & 001113 \\3 \mathrm { H } & 5778 \\4 \mathrm {~L} & 0234 \\4 \mathrm { H } & 5579 \\5 \mathrm {~L} & 1124 \\5 \mathrm { H } & 66 \\6 \mathrm {~L} & 15 \\6 \mathrm { H } & 8\end{array}$$ 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 2-7,if a frequency distribution with equal sized classes was made from this data,and the first class was "10 but less than 20",the relative frequency of the third class would be ________.

Analyze the consequences of actions that have greater costs than benefits on society's welfare.

Identify when an economic activity should or should not be undertaken based on its costs and benefits.

Distinguish between different standards (e.g., majority vote, economic efficiency) used to evaluate economic activities.

Understand the basic principles of supply and demand and how they relate to market equilibrium.

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Definitions:

Value In Diversity

The benefits and increased performance derived from having a variety of different perspectives and backgrounds in a group or organization.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, leading to competition based on price, quality, and branding.

Limited Market

A market situation characterized by restricted customer base, geographic reach, or size, limiting the potential sales of a product or service.

Average Total Cost

The total cost divided by the quantity of output produced; a measure of cost per unit of output.