The Local Amusement Park Was Interested in the Average Wait

question 103

Multiple Choice

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ) .They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stop watch to record the time they spent in line.The times recorded were as follows (in minutes) : 118,124,108,116,99,120,148,118,119,121,45,130,118 What is mean?

• A)114.15
• B)118
• C)148
• D)45
• E)115.5

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for goods and services that are used in the production of other goods and services.

Implicit Costs

The opportunity costs of using resources that a firm already owns, not involving direct monetary payment.

Road Lane

A specific portion of road or street designated for particular types of vehicles, often marked by lines, intended to manage traffic flow and enhance safety.

Urban Areas

Regions characterized by higher population density and vast human features in comparison to areas surrounding them.